While most industrial automation is currently used by large manufacturers such as global automakers, robot developers and providers are building systems to make it more accessible. RobCo GmbH today said it has raised $42.5 million in Series B funding to support its development and growth trajectory.
Three researchers led by Roman Hölzl, the chair of robotics and artificial intelligence at the Technical University of Munich, founded RobCo in 2020. The company currently has more than 50 employees.
It develops flexible robotic hardware kits for applications at small and midsize enterprises (SMEs) including machine loading and unloading, dispensing, palletizing, and welding. In addition to its patented modular hardware, RobCo offers a low-code and remote approach to deploying systems.
The Munich-based startup also said that its “plug-and-play functionality” can help manufacturers address challenges such as skilled-labor shortages, production scalability, and the transition to Industry 4.0.
“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,” stated Hölzl in a release. “RobCo is uniquely positioned with its easy-to-implement robots that offer a positive ROI [return on investment] from Day 1.”
RobCo offers modular robotic arms
For SMEs, machines are worth the investment only if they can be quickly and flexibly reprogrammed for changing tasks and maximum utilization, said RobCo. The company’s robotic arms are made up of seven or eight modular pieces with varying payload capacities and ranges, depending on the use case.
For example, its machine-tending laser system includes eight modules, has a 4 kg (8.8 lb.) payload, and has an 800 mm (31.5 in.) range. Meanwhile, RobCo’s palletizing offering, which also uses eight modules, has an 8.5 kg (18.7 lb.) payload and 1,300 mm (51 in.) range.
These kits enable users to intuitively assemble robots with RobCo Studio, a vertically integrated hardware and software platform, said the company. With RobCo Studio, deployed robots can be configured, implemented, and managed remotely via a digital twin.
This low-code approach eliminates the need for complex programming or specialized personnel on-site, claimed RobCo. It added that the platform includes “future-proof interfaces,” as well as a sensor and software layer to ensure the longevity of the hardware.
“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,” said Martin Matern, plant manager at DE-VAU-GE Gesundkostwerk Deutschland GmbH in Lüneburg, Germany.
RobCo has designed its modular robotic arm and software for small and midsize enterprises. Source: RobCo
Lightspeed leads investment round
Lightspeed Venture Partners led RobCo’s Series B round as a new investor. Former Apple and NVIDIA investor Sequoia Capital also participated in the round, along with Kindred Capital and Promus Ventures.
This funding brings RobCo’s total to date to $60 million. The company said it plans to invest the capital into expanding its distribution channels and advancing product development.
“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,” said Hölzl.
“The use of robotics in the industrial setting was previously reserved almost exclusively for large corporations with the corresponding financial and human resources,” noted Alex Schmitt, a partner at Lightspeed. “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,” he said. “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.”
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