Invert Robotics, a leader in robotic technology for non-destructive inspections, is pleased to announce the successful completion of its second investment round, raising an additional €2.5 million. This brings the total funds raised by the company to an impressive €25 million. The latest round, led by Irish EIIS fund Business Venture Partners (BVP) and US investor TechNexus Venture Collaborative, demonstrates strong support for Invert Robotics innovative approach to non-destructive testing in challenging environments. The company, headquartered in Dublin, specialises in using robotics equipped with high-definition cameras and sensor technology for precise inspections and testing.
The new €2.5 million investment will be instrumental in advancing the growth of Invert Robotics recently established Research and Development (R&D) centre in Dublin. This expansion aligns with the company's commitment to pushing the boundaries of technology in the field of robotics for non-destructive inspections. Neil Fletcher, CEO of Invert Robotics Group, expressed his enthusiasm for the latest investment, stating, "Deep tech like we do robots and hardware, it takes a little bit longer than perhaps SaaS products to make a significant return on an investment."
The funds will not only support the R&D centre but will also boost the robot product sales division, expanding Invert Robotics' reach to traditional inspection services companies and large global clients with internal maintenance and inspection teams. Invert Robotics, chaired by former Aryzta chief executive Kevin Toland, has gained recognition for its ability to conduct high-precision inspections in hazardous or confined spaces. The company's robots have been deployed to inspect wind turbine blades, industrial-scale tankers, and various production facilities, offering clients such as Danone, Lactalis, Heineken, Milei, and DMK a safer, more cost-effective, and more efficient inspection solution.
The company, which is currently employing around 40 people globally, plans to use the funding to almost double the headcount in its Dublin office, emphasising the importance of recruiting top talent for the expansion of its R&D team. Invert Robotics remains committed to its mission of creating a safer and more sustainable working environment through the application of robotic technology. With a focus on safety, precision, and efficiency, Invert Robotics is at the forefront of innovation in the field of robotics, offering solutions for inspections in challenging environments worldwide.
https://www.irishtimes.com/business/2023/12/07/invert-raises-25m-in-additional-funding-as-it-eyes-fresh-expansion/
