MIG Capital portfolio company Inbolt raises €15 million in Series A to further develop AI-powered 3D vision in robots
- MIG Capital, an Inbolt investor since 2022, joins the current round led by new investor Exor Ventures and followed by Bpifrance.
- Other existing investors, SOSV (US) and BNP Paribas Développement (France) also joined the round.
- Inbolt will use the new funding to accelerate R&D and continue its expansion with new offices in the United States.
Munich, 19 September 2024
MIG Capital, one of Germany’s leading venture capital firms, announced today that it participated in a €15 million Series A round for Inbolt, a pioneer of real-time robot guidance solutions, welcoming new investor Exor Ventures to the investor’s circle. In addition to MIG Capital, the financing round includes two other previous investors, SOSV and BNP Paribas Développement all of which invested in the company’s €3 million seed round in 2022. The current fundraising was led by Exor Ventures, the early-stage investment arm of Exor N.V.
Inbolt facilitates automation in manufacturing through its turnkey real-time robotic guidance solution GuideNOW, providing AI-powered vision for industrial robot guidance. The technology enables robots to adapt to any environment, making automation more flexible, reliable, and efficient. Inbolt’s technology quickly processes 3D data to determine a part’s position and orientation, enabling real-time robot trajectory adaptation, even in unstructured environments.
“Inbolt continues to impress industry players with its current development and future plans,” said Dr. Oliver Kahl, Principal, MIG Capital. “We are happy to further support the talented Inbolt team and have full confidence that this additional investment from distinguished new investor Exor will provide the company with the edge it needs to succeed further.”
“Inbolt is excited to secure this new round of investment from MIG Capital, along with our other new and existing investors. As demand from manufacturers continues to rise, accelerating our development and expanding our presence in Europe, the United States, and Japan is now more critical than ever. With the diverse expertise and deep experience of our financial partners, we are strategically positioned to make strong decisions for our product evolution and global growth,” said Rudy Cohen, CEO of Inbolt.
“Until now, manufacturers have had to choose between ROI and deployment velocity of automation solutions. The ingenuity of Inbolt’s platform is to leverage 3D cameras and AI to give eyes and brains to robotic arms that were previously complex to manipulate. This solution has 2 massive advantages: it can be deployed in a matter of hours and at a much lower cost. What convinced us was the use of Inbolt in regions where the cost of labour made automation impossible until now, and its ease of use by less tech-savvy operators. We are delighted to be joining Inbolt and to be able to support them in their ambition for international growth,” commented Noam Ohana, Managing Director from Exor.
Already proven in several dozen industrial sites in France, Italy, Poland, Hungary and the United States, Inbolt has established itself as one of the most robust solutions on the market. An initial contract with automotive group Stellantis enabled the carmaker to save more than €3.1 million in one year. Inbolt is also used by customers such as Ford, Whirlpool, Thyssenkrupp Automotive, and Atlas Copco.
To support its growth, Inbolt plans to open a new US office at the end of 2024. The funds raised will be used to accelerate product development, enabling manufacturers to automate a greater number of operations in their factories and expand the team: Inbolt plans to recruit around thirty new employees, tripling the company’s workforce by the end of 2025.
About Inbolt
Inbolt provides a real-time guidance solution for robots, based on 3D vision and artificial intelligence, enabling robots to make autonomous decisions adapted to uncertain and unstructured environments. The Paris-based company was founded in 2019 after completing a four-month pre-accelerator program at the University of California, Berkeley. Inbolt now works with top companies in manufacturing in Europe and is in discussions with industrials across Europe, the U.S., and Asia. The company is backed by an array of reputable investors, including MIG Capital, BNP Paribas Développement, SOSV, and the French industrialist Laurent Dassault. www.inbolt.com
About MIG Capital
MIG Capital is one of the leading German VC investors. Through its MIG funds, MIG invests in young deep tech and life sciences companies in German-speaking Europe and beyond. To date, the company has invested over €730 million in more than 50 start-ups. MIG portfolio companies develop innovations in areas including biopharmaceuticals, energy and environmental technologies, advanced computing, digitalization / IoT, medical technology, and digital health. The MIG investment portfolio currently consists of 33 companies.
MIG’s investment team is made up of a dedicated group of engineers, scientists, physicians, and entrepreneurs who use analytical and creative processes to assess the risks and opportunities of business models and technologies. Their reputation, experience, and network provide excellent access to companies, institutions, and decision-makers to support the growth of their portfolio companies.
In recent years, MIG Capital has realized more than ten successful portfolio company sales, including Siltectra (to Infineon) and Hemovent (to MicroPort). It has placed several companies on the stock exchange including BRAIN, NFON, BioNTech and Immatics.
For further information, please visit: www.mig.ag, www.mig-fonds.de. LinkedIn: MIG Capital
Contact
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Dr. Oliver Kahl, Principal
+49-89-94382680
info@mig.ag
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