Belgian AI computer vision startup Robovision has raised $42 million in a Series A funding round led by Target Global and Astanor Ventures (invested in BioFluff and Source.ag). Also, French VC Red River West participated in the round. With this, the total funding raised by the company accounts for $65 million.
This funding marks one of the largest Series A rounds in Belgium’s burgeoning startup ecosystem. Robovision will use the investment to fuel its expansion in the US, addressing the demand for automated solutions in American factories. It will also invest in R&D and growth in existing markets, with future office openings planned across Germany, France, the UK, the Middle East, and Asia. Currently, the team has 130 employees and it plans to hire 70 more by the end of this year.
AI-powered industrial automation
Headquartered in Ghent, Belgium, Robovision was founded by Jonathan Berte and Tim Waegeman in 2009. The company specialises in integrating AI-powered computer vision technology with robotics, empowering machines to see, thereby helping clients automate their processes across industries.
A key highlight of Robovision’s solution is its no-code nature, enabling end-users to utilise the platform without specialised data science expertise.
What sets Robovision apart is its distinctive capability to enhance existing machinery and production lines with Vision AI, ushering in a new era of automation. This empowers end-users, including factory operators and farmers, to develop and sustain their AI models autonomously. Leveraging domain-specific expertise coupled with state-of-the-art technology, Robovision’s Industrial AI prowess facilitates smarter, application-specific automation solutions.
Use cases of Robovision’s tech
One notable use case of Robovision’s technology involves automating the sorting and planting of tulip bulbs using advanced 2D and 3D image recognition algorithms. Additionally, the platform has been integrated into supermarket scales in the Belgian chain Colruyt to identify fruits and vegetables accurately for labeling during weighing.
Beyond agriculture and retail, Robovision’s technology has been leveraged for computed tomography diagnostics enhancement, plastic waste detection in rivers, and quality control optimisation in manufacturing plants. The platform boasts integration with over 1,000 robots across 40 different countries.
Commenting on this milestone, CEO Thomas Van den Driessche remarked, “Securing investments from distinguished backers positions us uniquely to drive innovation, strengthen our global presence, and further solidify our position as pioneers in AI-powered automation. I look forward to this next chapter in our journey as we accelerate our expansion into new markets and carry out our strategic vision.”
Founder Jonathan Berte reminisced, “More than a decade ago, I sat down with Tim Waegeman, my co-founder and CTO, who was completing his PhD in machine learning. We quickly realized that this technology had the potential to completely rewrite the rules of the game in industrial automation. We are grateful to our investors for their support and look forward to putting our technological leadership to use to accelerate the industrial adoption of AI on a global scale.”
Bao-Y Van Cong, Partner at Target Global, emphasised, “Robovision epitomises the calibre of visionary teams we aspire to champion. Our investment in Robovision is underpinned by our belief in their forward-thinking approach, which has allowed them to surpass industry benchmarks in key metrics.”
Echoing similar sentiments, Hendrik Van Asbroeck from Astanor Ventures stated, “We invest in innovation leaders, especially if they contribute to a more sustainable food system. Robovision’s spectacular innovations in agriculture were made possible by a team that is not just capable of imagining the future, but knows how to execute on it. It’s even more exciting to see the quality of the platform they’ve built, which is successfully enabling them to scale their impact to other industries like manufacturing.”
