Fruitcore Robotics, a Germany-based provider of an intelligent robotics and automation solutions and creator of the Highly Optimised Robotic Systems Technology (HORST) range of digital robots, has announced that it has raised €23m (£20m) in funding.
The company has said it plans to use the funding round to enable organisations of all sizes to bring automated and robotic solutions into their manufacturing processes.
Three years after its market launch, the company reports that it has already automated several hundred different applications in 29 different industries in Germany, Austria, Switzerland and Italy.
Investment funds Capricorn Partners, Kompas and Xai technologies have been announced as first-time investors.
What’s more, the capital is intended to accelerate product innovation, sales, marketing and the brand’s international expansion.
Fruitcore claims that its success is in large part due to its HORST range, which it claims enables even small and medium-sized companies without prior experience to easily and quickly get started with automation and digitisation.
Jens Riegger, CEO 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.”
The HORST range was developed to offer hardware, software, connectivity and services within a single end-to-end solution that can also support applications such as loading and unloading machines, stacking, sorting and packaging products, handling turned, milled and stamped parts, in addition to pick and place applications for small parts.
