Belgian Hyperscaler Tackles Global Labor Shortage with AI-powered Automation
27 March 2024 – Robovision, a leading European AI company specializing in AI-powered
computer vision, has successfully raised $42 million in its latest investment round. The round
was led by Target Global and Astanor Ventures, known for their significant contributions to
high-growth companies. Astanor Ventures, as an impact investor, will play a vital role in
amplifying Robovision's positive global impact mission. Red River West, the transatlantic fund
known for facilitating the US expansion of European firms, is also joining the funding round.
Including existing investments from PE Capital Group, Atlasinvest, Dovesco, Finindus, and PMV,
Robovision’s funding to date totals $65 million.
Headquartered in Ghent, Robovision’s groundbreaking AI-powered computer vision platform
enables customers across more than 45 countries to revolutionize their automation processes
across a multitude of industries. With more than 1,000 of its machines deployed across the
world, Robovision offers an end-to-end, no-code solution for machinery manufacturers and
production lines across a multitude of sectors. To date, the company has generated over $250m
in sales for their partners and has been particularly effective in the agricultural space as seen
through the company’s partnership with ISO Group where they are helping plant 1 billion tulips
annually (half of the world’s production). Furthermore, in the high-tech manufacturing sector,
they have been a trusted partner to Japanese giant Hitachi in helping them produce
semiconductor wafers.
The Robovision platform is unique in its ability to upgrade existing machinery and production
lines with Vision AI, enabling next-level automation. A critical success factor for this automation
is the empowerment of their end-users such as factory operators and farmers who are able to
create and maintain their own AI models. This Industrial AI capability, blending domain-specific
knowledge with cutting-edge technology, has the ability to revolutionize factories by enabling
smarter, fit-for-purpose automation.
The funding round will help accelerate Robovision's U.S. expansion, fostering a robust local
presence to address the increasing demand for automated solutions in American factories. The
funds will also be used to invest in R&D and growth in existing markets with future office
openings planned across Germany, France, the UK, Middle East and Asia.
CEO Thomas Van den Driessche commented, “Securing investments from distinguished
backers positions us uniquely to drive innovation, strengthen our global presence, and further
solidify our position as pioneers in AI-powered automation. I look forward to this next chapter in
our journey as we accelerate our expansion into new markets and carry out our strategic vision.”
Robovision founder Jonathan Berte said, “More than a decade ago, I sat down with Tim
Waegeman, my co-founder and CTO who was in the midst of completing his PHD in machine
learning. We quickly realized that this technology had the potential to completely rewrite the
rules of the game in industrial automation. We are grateful to our investors for their support and
look forward to putting our technological leadership to use in order to accelerate the industrial
adoption of AI on a global scale.”
Bao-Y Van Cong, Partner at Target Global, states, "Robovision epitomizes the caliber of visionary
teams we aspire to champion. The advanced Robovision AI platform, propelling transformative
applications across diverse sectors, underscores the profound potential of cutting-edge vision
technology. Our investment in Robovision is underpinned by our belief in their forward-thinking
approach, surpassing industry benchmarks in key metrics."
Hendrik Van Asbroeck from Astanor Ventures adds, "We invest in leaders in innovation,
especially if they contribute to a more sustainable food system. Robovision’s spectacular
innovations in agriculture were made possible by a team that is not just capable of imagining
the future, but knows how to execute on it. It's even more exciting to see the quality of the
platform they've built is successfully enabling them to scale their impact to other industries like
manufacturing. "
For media inquiries, please contact: press@robovision.ai
About Robovision
Robovision helps businesses tackle automation challenges to cope with a world that is
constantly changing. The company offers a platform that uses AI-powered computer vision.
Thanks to the no-code solution, end users like factory operators, farmers and doctors create
dynamic AI solutions. Because of the platform’s end-to-end approach, these solutions can adapt
to any environment and scale to whatever size - no matter how fast it grows. By adding that
intelligence to machines, the company solves automation problems that have disrupted entire
industries. That is why Robovision also acts as a structural partner for machinery
manufacturers who want to unlock their machines’ full potential. Today, Robovision empowers
more than 1000 machines in 45 different countries.
About Target Global
Target Global is a leading pan-European technology investment firm dedicated to backing
Europe’s innovative talent and helping them grow into global champions. With more than €3
billion in assets under management, Target invests in companies across all sectors,
geographies and stages of their lifecycle, from pre-seed to pre-IPO.
Since 2015, Target has invested in global winners including Delivery Hero, Revolut, Rapyd, and
many others, supporting them in their growth and providing insights on their endeavors. To date,
Target has backed 15 unicorns, had 21 exits and 7 realized IPOs. To learn more about Target
Global, please visit targetglobal.vc.
About Astanor Ventures
Astanor Ventures is a global B Corp certified impact venture capital investor that backs
ambitious entrepreneurs with disruptive, scalable solutions that will create systemic change
across the agrifood value chain, from soil to gut. With a demonstrated commitment to
sustainability and impactful investments, Astanor Ventures identifies and nurtures early-stage
companies that harness technology to drive positive change.
With a keen focus on climate transition, nature positivity, resource efficiency, and social and
health enhancements, Astanor Ventures is at the forefront of fostering a regenerative and
sustainable bioeconomy. The fund therefore classifies as an article 9 fund within the meaning of
Regulation (EU) 2019/2088 and is also a Diversity VC certified fund. https://astanor.com/
About Red River West
Red River West is a transatlantic VC fund dedicated to supporting exceptional European
technology companies with differentiated offerings for the US market. The fund is led by
tech entrepreneurs and investors based both in Europe and the US who all share a track
record of building and backing start-ups which became global leaders through EU to US
expansion. Red River West believes Europe is home to a talented and driven pool of
entrepreneurs. By providing significant financial firepower and hands-on support in
Europe & the US, Red River West helps these entrepreneurs realize their full potential.
For more information visit: www.redriverwest.com
About PE Capital Group
PE Capital Group (PECG) is a sector-agnostic private equity fund, founded by Stefan Yee, Alain
Bolssens and Stijn Van Rompay as a succesor fund of PE Group with the support of more than
40 entrepreneurs and private investors. PECG's investment focus targets medium-sized
(Belgian) companies from various sectors with exceptional entrepreneurs and strong growth
ambitions. Currently, PECG has investments in Robovision, Jodima Group, Hiigh and Summit
Group.
About Dovesco
Dovesco, led by Anthony and Gregory De Clerck, is a family investment company that invests
sustainably in growth companies. The group is active in chemistry, real estate, private equity,
and fund investments (with many direct co-investments in technology companies).
About Finindus
Finindus is a Belgium-based venture capital investment company funded by ArcelorMittal and
the Flemish Region and is linked to OCAS, a world-class metal research centre. Finindus
provides early stage and growth financing to innovative companies offering smart and green
industrial technologies in the field of materials, sustainable manufacturing and industry 4.0.
About AtlasInvest
Founded in 2007 by Marcel van Poecke, AtlasInvest concentrates on renewable energy and
technological innovation within the energy sector. It prioritizes investments that facilitate the
sector's digital transformation, aiming for a sustainable energy future powered by advanced
technologies.
About PMV
PMV is an investment company that shapes the economic future of Flanders by financing
promising companies from the very start to growth and internationalization. With over €1.6
billion in assets under management and led by experienced professionals, PMV offers
tailor-made financial solutions for entrepreneurs with a solid business plan and a strong
management team, including venture capital, loans and guarantees.
For more information, visit www.pmv.eu.