Munich, Germany-based, expert in modular, affordable, and connected robotics automation solutions for SMEs, Robco raised USD 42.5 million in Series B. The company announced the investment on February 26, 2024. Global venture powerhouse Lightspeed Venture Partners joined as a new investor in a recent financing round (Series B). Former Apple and Nvidia investor Sequoia Capital, along with Kindred Capital and Promus Ventures, also joined in the funding. The total investment in RobCo amounts to more than USD 60 million.
Purpose of the investment by Robco
With the newly acquired capital, the company seeks to expand distribution channels further. It also has plans to further advance product development.
What the company’s official has to add
Roman Hölzl, CEO and Co-founder of RobCo, further added, “The ongoing development of our modular robotic platform for industrial use is crucial for addressing the current and future challenges in economy and society. Today, our robots can already be set up, programmed, and managed with software and AI assistance. The next step is to make industrial robots even more autonomous and intelligent in their operational environment. 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.”
He further added, “We are only at the beginning of an extensive journey in automation and aim to become a leader in modular robot automation for SMEs in Europe. RobCo is uniquely positioned with its easy-to-implement robots that offer a positive ROI from day one. We see ourselves as an extension of companies in automating their production and supporting the transformation towards Industry 4.0. The fact that a venture capital powerhouse like Lightspeed supports our next steps with a $42.5 million financing round tells us that we are on the right path – and is an incredible motivational boost for all of us to take our solutions to the next level.”
What the investors have to comment
Martin Matern, plant manager at DE-VAU-GE Gesundkostwerk Deutschland GmbH in Lüneburg, said, “Through a comprehensive RobCo automation solution in the palletizing area, we can actively address the ongoing shortage of skilled workers with technology and at the same time save costs.”
Alex Schmitt, Partner at Lightspeed, further added, “The use of robotics in the industrial setting was previously reserved almost exclusively for large corporations with the corresponding financial and human resources. 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 recognize 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.”
About the company
RobCo’s solutions are targeted at small and medium-sized enterprises (SMEs), for whom the use of machines is only beneficial if they can be easily and swiftly reconfigured for different purposes. RobCo helps businesses move towards Industry 4.0 and into the automation space.
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