Investors are set on intelligent technology for home robots
LINZ, Austria--(BUSINESS WIRE)--Robart, a technology company which has developed autonomous AI for the consumer mass market, has secured a EUR 6.1 Million B-round. Major international brands are using Robart's technology to create disruptive consumer robots with unique Smart Home functionality. First products with Robart's new generation technology debuted at IFA 2017 and will be in markets in the next weeks.
CM-CIC Innovation, a capital holding company of the Crédit Mutuel CM11 group in France, led this new investment round and was joined by the existing investors Innovacom, Robert Bosch Venture Capital and SEB Alliance.
Stéphane Simoncini from CM-CIC Innovation, will also join Robart's board of directors. "The market trends are definitively going to a massive use of robots in our everyday lives," explained Simoncini, Investment Director Innovation at CM-CIC Innovation. "We need those robots to be intelligent, to understand what they are doing and in which context they are working so they can learn and become smarter."
Robart develops IoT connected systems for artificial intelligence and navigation, which make household robots not only act and navigate intelligently, but also understand their surroundings and adapt to any changes that may take place between uses. Their customers are large home robot manufacturers that incorporate this system into their products. Vacuum cleaners using Robart's navigation technology interpret their surroundings intelligently, create a map of the apartment and are able to orient themselves. Communication between the user and the robot is simple and intuitive using Amazon's Alexa and a smartphone. Robart's technology is the first solution of this kind currently out in the market.
Michael Schahpar, Founder and Commercial Director of Robart, explains the company's roadmap: "We want to use these resources to strengthen our market position in Europe, Asia and the USA. The confidence and commitment of our investors confirms our objectives and supports our vision of being a revolutionary brand in this market segment."
Home robots belong to the fastest growing segment of home appliances, with analysts forecasting a sales growth of up to 40 percent. Currently mainly found as vacuum cleaners, in the coming years household robots will take over many different areas, such as fetch and carry tasks, entertainment, help for the elderly and home security.
Harold Artés, Founder and Technical Director of Robart, is already looking into the future: "The development of home robots in the future will be similar to that of smartphones, with new functions added every year. Robart's Navigation Technology is on its way to becoming the leading system for home robots, much like Android is a leading operating system for mobile phones."
About CM-CIC Innovation
CM-CIC Innovation is a subsidiary of CM-CIC Investissement, member of Crédit Mutuel CM11 group, specializing in venture capital investments. Its aim is to invest in companies that are developing promising technologies. CM-CIC Innovation selects companies with strong growth potential in dynamic sectors like information technology, telecoms, electronics, life sciences, new materials and environmental technology.
CM-CIC Innovation's policy is to provide long-term support to innovative start-ups by investing in their equity, in order to maximize their chances of success.
Robert Bosch Venture Capital GmbH (RBVC):
RBVC is the corporate venture company of the Bosch Group, a leading global supplier of technology and services RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch above all automation and control, energy and environment, enabling technologies, and healthcare. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.
Innovacom is an active early stage investor since its creation in 1988 in France where it pioneered venture capital industry. Working with some of the brightest minds in the business, focused on delivering new technologies, hardware and software products, services and contents to corporations or consumers, Innovacom has invested more than 1 billion euros, managed 8 venture capital funds, helped more than 300 ground breaking digital companies launch and grow internationally while exiting more than 100 portfolio companies through trade sales or IPOs.
Through its seed and early stage venture capital funds Innovacom 6 and Technocom 2, Innovacom's current investments portfolios include promising companies in numerous sectors of the digital economy such as 21Net, AirLynx, Aryballe Tech, CAILabs, Cozy Cloud, Exagan, Feeligreen, Intersec, MicroEJ, I-Ten, Matrixx Software, Predicsis and Robart.
For more information, visit www.innovacom.com
In May 2011, Groupe SEB, the world leader in small domestic equipment, launched SEB Alliance its corporate venture capital entity to prepare for coming changes in the small domestic equipment market and to extend its innovation strategy to new technologies and expertise. With an initial capital of EUR 30 million, SEB Alliance prioritizes minority stake investments in innovative companies with high technological content operating in areas such as: smart systems/connectivity & robotics, new forms of energy, ageing population, preserving health, beauty and wellbeing, ecology and sustainable development.
Robart is an Austrian technology company developing AI for autonomous consumer robots. The company has a focus on development and IP and employs a world-class team of engineers and scientists. Robart provides international brand name customers with AI control units for household robots. Robart is venture backed by Robert Bosch Venture Capital, Innovacom, CM-CIC Innovation, as well as SEB Alliance.