Image: Robco
The Munich-based company specialises in flexible robotic hardware kits for various applications specifically for SMEs.
Automation company Robco has bagged $42.5m in a funding round led by global venture capital firm Lightspeed.
The Munich-based start-up facilitates plug-and-play robot automation for SMEs and will use the new funding to further develop its product and expand its distribution channels.
As well as Lightspeed, Sequoia Capital, Kindred Capital and Promus Ventures also participated. The funding brings the total investment in Robco to more than $60m.
Founded in 2020 by three researchers at the Technical University of Munich, Robco develops flexible robotic hardware kits for various applications in SME manufacturing, such as machine loading and unloading or palletising.
The kits enable a modular, intuitive assembly and adaptation of robotics applications and the robots themselves can be configured, implemented and managed remotely via a digital twin. The robots are designed to cater specifically to smaller companies due to their ability to be reprogrammed for changing tasks.
Roman Hölzl, CEO and co-founder of Robco, said its robots can be set up, programmed and managed with software and AI assistance. “With our Robco autonomy approach, we focus on a deeper implementation of AI in our software so that robots can autonomously sense, reason and act in their environment, planning and executing actions independently in the near future.”
Lightspeed partner Alex Schmitt noted the focus on SMEs is a unique selling point for Robco. “The use of robotics in the industrial setting was previously reserved almost exclusively for large corporations with the corresponding financial and human resources,” he said.
“High costs and enormous complexity made them partly unaffordable and challenging to manage for small and medium-sized enterprises. Robco has already made a significant breakthrough in this field with its developments. We recognise both technological and commercial potential for the German and international markets. It is crucial to optimally foster this potential and make robotic automation solutions accessible to all companies.”
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