Robovision, a Gent, Belgium-based AI company that provides a computer vision AI platform, has raised $42 million in funding, bringing its total raised to $65 million.
Investors
The round was led by Target Global and Astanor Ventures, with participation from Red River West.
Target Global is a pan-European technology investment firm with more than €3 billion in assets under management. It invests in companies across all stages of their lifecycle, from pre-seed to pre-IPO.
Astanor Ventures is a Brussels-based venture capital firm focusing on entrepreneurs regenerating the food, blue ocean economy, and agriculture sectors.
Robovision Use of Funds
The funding round will fuel Robovision's expansion in the U.S. and bolster R&D for platform enhancement. It will also support growth in current markets and the opening of new offices in Germany, France, the UK, the Middle East, and Asia.
About Robovision
Founded in 2012 by Tim Waegeman and Jonathan Berte, Robovision is an AI company that offers an end-to-end, no-code solution for machinery manufacturers and production lines. Their platform allows for the seamless integration of Vision AI into existing machinery, enabling next-level automation without the need for extensive technical expertise. With a focus on empowering end-users such as factory operators and farmers, Robovision partners with industry leaders like ISO Group and Hitachi to drive innovation and efficiency.
Funding Details
Company: Robovision BV.
Raised: $42.0M
Round: Unknown
Funding Month: March 2024
Lead Investors: Target Global, Astanor Ventures
Additional Investors: Red River West
Company Website: https://robovision.ai/
Software Category: Computer Vision
Source: https://tech.eu/2024/03/28/robovision-raises-42m-to-accelerate-ai-powered-industrial-automation/