Robovision, a leading European AI company specializing in AI-powered computer vision, has successfully raised $42 million in its latest investment round. The round was led by Target Global and Astanor Ventures, known for their significant contributions to high-growth companies. Astanor Ventures, as an impact investor, will play a vital role in amplifying Robovision’s positive global impact mission. Red River West, the transatlantic fund known for facilitating the US expansion of European firms, is also joining the funding round. Including existing investments from PE Capital Group, Atlasinvest, Dovesco, Finindus, and PMV, Robovision’s funding to date totals $65 million.
Headquartered in Ghent, Robovision’s groundbreaking AI-powered computer vision platform enables customers across more than 45 countries to revolutionize their automation processes across a multitude of industries. With more than 1,000 of its machines deployed across the world, Robovision offers an end-to-end, no-code solution for machinery manufacturers and production lines across a multitude of sectors. To date, the company has generated over $250m in sales for their partners and has been particularly effective in the agricultural space as seen through the company’s partnership with ISO Group where they are helping plant 1 billion tulips annually (half of the world’s production). Furthermore, in the high-tech manufacturing sector, they have been a trusted partner to Japanese giant Hitachi in helping them produce semiconductor wafers.
The Robovision platform is unique in its ability to upgrade existing machinery and production lines with Vision AI, enabling next-level automation. A critical success factor for this automation is the empowerment of their end-users such as factory operators and farmers who are able to create and maintain their own AI models. This Industrial AI capability, blending domain-specific knowledge with cutting-edge technology, has the ability to revolutionize factories by enabling smarter, fit-for-purpose automation.
The funding round will help accelerate Robovision’s U.S. expansion, fostering a robust local presence to address the increasing demand for automated solutions in American factories. The funds will also be used to invest in R&D and growth in existing markets with future office openings planned across Germany, France, the UK, Middle East and Asia.
CEO Thomas Van den Driessche commented, “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.”
Robovision founder Jonathan Berte said, “More than a decade ago, I sat down with Tim Waegeman, my co-founder and CTO who was in the midst of 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 in order to accelerate the industrial adoption of AI on a global scale.”
Bao-Y Van Cong, Partner at Target Global, states, “Robovision epitomizes the caliber of visionary teams we aspire to champion. The advanced Robovision AI platform, propelling transformative applications across diverse sectors, underscores the profound potential of cutting-edge vision technology. Our investment in Robovision is underpinned by our belief in their forward-thinking approach, surpassing industry benchmarks in key metrics.”
Hendrik Van Asbroeck from Astanor Ventures adds, “We invest in leaders in innovation, 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 is successfully enabling them to scale their impact to other industries like manufacturing.”
About Robovision
Robovision helps businesses tackle automation challenges to cope with a world that is constantly changing. The company offers a platform that uses AI-powered computer vision. Thanks to the no-code solution, end users like factory operators, farmers and doctors create dynamic AI solutions. Because of the platform’s end-to-end approach, these solutions can adapt to any environment and scale to whatever size – no matter how fast it grows. By adding that intelligence to machines, the company solves automation problems that have disrupted entire industries. That is why Robovision also acts as a structural partner for machinery manufacturers who want to unlock their machines’ full potential. Today, Robovision empowers more than 1000 machines in 45 different countries.
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