The stakes in the industrial robotics and automation sector are rising as a result of the emergence of next-wave communications such as 5G, NB-IoT, and others.
fruitcore robotics, a Costance, Germany-based developer of HORST digital robots and a provider of intelligent robotics and automation solutions, has raised €23M in funding.
Capricorn Partners and KOMPAS are among the venture capital firms involved, as are tech consultancy XAI Technologies and a number of fruitcore’s existing investors, including UVC Partners, the early-stage VC affiliated with the Technical University of Munich, as well as Matterwave Ventures, CNB Capital, family business Pecon, and btov Private Investor Network.
The funds will be used to accelerate product development, sales and marketing, and international expansion. Previously, in October 2021, fruitcore‘s €17M series A round was co-led by UVC Partners, btov, and CNB.
HORST – industrial-grade robots
The startup was established in 2017 by Jens Riegger, Patrick Heimburger, Tim Schmiedl, Manuel Frey and Tobias Kuentzle and since then, its core robotic systems optimization technology has been commercialised. This platform, known as HORST, is made up of industrial-grade robots that are managed by computer software and intended to automate a variety of factory tasks. Fruitcore’s product offers an “end-to-end” solution by combining IoT connectivity protocols, maintenance, and intelligent camera peripherals.
The HORST platform has 60+ industrial clients across DACH and Italy three years after its market launch. It is marketed as having low investment costs, quick implementation, and easy customization.
Jens Riegger, Managing Director (CEO) and co-founder of fruitcore robotics said: “With the closing of our Series B financing, we are again a big step closer to our goal of making robotics and automation solutions accessible to the masses. We see that the demand for high-quality and easy-to-use robots in the market is steadily increasing. Therefore, we will use the new capital primarily to serve the demand for our robotics and automation solutions as well as digital products in the European market. By the end of 2023, fruitcore robotics aims to open up a large part of the European market.”
Patrick Heimburger, Managing Director (Chief Revenue Officer) and co-founder of fruitcore robotics said: “We are still at the beginning of the robots’ growth trajectory, especially in medium-sized businesses, and we are convinced that with our ‘digital robot’ HORST we are one of the game changers and thus a driving force for the broad use of robots in the manufacturing industry. We would like to thank our investors for the trust they have placed in us.”
Josef Mardijan Member of the Executive Board (CFO) of fruitcore robotics adds: “In times of political and economic uncertainty, the current financing round with a significant volume of 23 million euros once again confirms the attractiveness of our business model and not least the trust placed in our team, of which we are very proud.” The company now employs more than 100 people and will create attractive jobs at its Constance and Villingen sites through further growth.”