Paris-based Inbolt has successfully raised €15 million in a Series A funding round to enhance its real-time robot guidance solutions and expand its operations across Europe and the United States.
Inbolt Secures €15 Million in Series A Round to Propel Expansion and Technological Advancements
Paris, 10 October 2023 – Inbolt, a Paris-based firm specialising in real-time robot guidance solutions, has successfully raised €15 million in a Series A funding round. The investment was led by Exor Ventures, the early-stage investment branch of Exor N.V., which is the principal stakeholder in renowned industrial groups including Ferrari, Stellantis, and CNH Industrial. The funding initiative also saw participation from Bpifrance, serial entrepreneur Yann Fleureau, founder of Cardiologs, and existing investors such as MIG Capital (Germany), SOSV (US), and BNP Paribas Développement (France). With this latest inflow, Inbolt’s total capital raised now stands at €20 million.
Founded in 2019 by Rudy Cohen, Albane Dersy and Louis Dumas during their MSc X-HEC Entrepreneurs programme, Inbolt has aimed to revolutionise industrial robotics with its AI-enhanced 3D vision system. Their technology enhances the efficiency and precision of production lines by providing robotic arms with real-time guidance capabilities. This technology is reported to be 100 times faster than existing market solutions, enabling robots to adapt to varying industrial environments including automotive, electronics, and logistics sectors.
Inbolt has established itself across multiple locations with offices in France and Germany, supporting over 20 factories across Europe and the United States. The new funding will be pivotal in meeting the escalating demand, particularly from the United States and Japan. With the manufacturing sector increasingly leaning towards automation to address challenges such as labour shortages and the necessity for better working conditions, Inbolt’s solutions offer a much-needed advantage.
The crowning jewel of Inbolt’s technological portfolio is GuideNOW, a real-time robotic guidance system that utilises 3D vision cameras powered by artificial intelligence. The system excels at quickly processing 3D data to ascertain the position and orientation of parts, permitting real-time trajectory adjustments even in disordered settings. GuideNOW is acclaimed for its rapid deployment and cost-efficiency, operable by users with limited technical expertise.
The credibility of Inbolt’s technology is fortified by its successful implementation in various industrial sites across France, Italy, Poland, Hungary, and the United States. A significant contract with automotive giant Stellantis resulted in savings exceeding €3.1 million in a single year. Inbolt’s client list also includes prominent names such as Ford, Whirlpool, Thyssenkrupp Automotive, and Atlas Copco.
CEO Rudy Cohen expressed enthusiasm about the company’s trajectory, remarking, “At Inbolt, we enable any robot to make real-time decisions and adapt to all types of environments, even the most complex. With a 400% increase in demand over the past six months, it is strategic for us to strengthen our presence in Europe while accelerating our expansion into the United States and Japan.”
Noam Ohana, Managing Director at Exor, added, “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 two massive advantages: it can be deployed in a matter of hours and at a much lower cost and used even 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.”
Oliver Kahl from MIG Capital, reflecting on the progress, said, “Inbolt has been moving at an incredible pace, especially over the last 10 months. Going from development to production in factories so quickly is seriously impressive. We’re excited to see how far they’ll take this.”
In light of the new capital, Inbolt plans to establish a US office by the end of 2024 and significantly expand its team, aiming to recruit around 30 new employees, effectively tripling its workforce by the end of 2025. The funds are also earmarked for accelerating product development to broaden the applicability of their technology.
Inbolt’s innovation has earned industry recognition, including a 2023 RBR50 innovation award for GuideNOW. The company’s capacity to facilitate automation with ease and speed has notably impressed industry observers and investors alike.
As the manufacturing sector continues to evolve, Inbolt positions itself as a key player, contributing to enhanced automation capabilities and operational efficiencies in industries worldwide.
Source: Noah Wire Services
