The computer vision software provider raised $42 million, equivalent to €38.9 million, in a recent investment round.
Robovision supports organizations in developing AI models for production lines and machines. The models can support the agricultural sector by being present in a machine that fully automates recognizing, planting and picking plants. The models can also be applied in medical environments, where the computer detects which organs are visible on a photo or scan.
Robovision has been particularly successful in the agricultural sector so far. Collaborations with partners are crucial as they integrate the models into machines. In this way, the Ghent-based company has now exceeded $250 million in sales.
Expand
There is no lack of ambition because, with the new capital, Robovision wants to enter the U.S. market. The company has announced the opening of an office in the United States, the CEO told De Tijd. In the short term, five to six employees will represent the company in America. These employees will handle sales, marketing and operations.
The investment comes from Target Global, Astanor Ventures and Red River West. Together with previous rounds of investment, Robovision has raised a total of $65 million.
In addition to its plans for the U.S. market, the capital will also be used for Research & Development to strengthen its computer vision platform. The company also aims to grow in countries where it already has a presence. It was previously announced that Robovision plans to enter the German market.
Tip: Europe’s Wi-Fi satellite program will exclude non-EU countries
17 hours ago
