Belgium

[Funding alert] Ghent-based Robovision Secures $42Million in Funding

Mar 28, 2024 | By Startup Rise EU

  • Robovision, a deeptech startup secures $42million in funding.
  • Robovision's computer vision platform, based on artificial intelligence, provides machinery makers and production lines with a comprehensive, no-code solution.
  • The funds will also go towards R&D and market expansion in already established areas.
AI-powered computer vision platform, Robovision secures $42million in funding increasing its total funding to $65 million. The financing was headed by Astanor Ventures and Target Global. Red River West entered the financing round as well.

AI-powered computer vision platform, Robovision secures $42million in funding increasing its total funding to $65 million. The financing was headed by Astanor Ventures and Target Global. Red River West entered the financing round as well.

Production lines and machinery makers can benefit from an end-to-end, no-code solution provided by Robovision's AI-powered computer vision platform.

The business has brought in over $250 million in revenue for its partners, and it excels in the agricultural industry. Through a cooperation with ISO Group, Japan's largest company Hitachi is able to make semiconductor wafers and plant one billion tulips annually, or half of the world's total production.

The Robovision platform is special because it can use Vision AI to modernise manufacturing lines and current machinery, enabling next-generation automation. This makes it possible for end users to develop and manage their own AI models, including farmers and industry owners.

Read also - London-based Oriole Networks Secures £10Million in Seed Funding

This Industrial AI capability combines state-of-the-art technology and domain-specific knowledge to provide more intelligent and purpose-fit automation.

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."

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Robovision founder Jonathan Berte said: "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 realised that this technology had the potential to rewrite the rules of the game in industrial automation completely. 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, stated: "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."

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, which is successfully enabling them to scale their impact to other industries like manufacturing."

The funding round will support Robovision's rapid growth in the United States and help the company establish a strong local presence in response to the growing need for automated solutions in American manufacturing.

In addition, the money will be used to expand into current markets and invest in research and development. Future office openings are planned in Germany, France, the UK, the Middle East, and Asia.

About Robovision

Robovision, a belgiun startup is a central platform to manage vision intelligence. It is an computer vision software that Successfully introduce AI in dynamic environments without the need for AI experts. This platform acts as a revolutionary startup in the belgium startup ecosystem.

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