Barcelona-based automation company THEKER has secured €73 million ($85 million) in a fresh round of funding to expand its industrial robotics business. The investment will be used by the company to increase deployments, establish its technology, and hire additional engineers and deployment experts.
CRV led the funding round. Also investing were Samsung, LVMH, Cathay Innovation, 20VC, Henkel Ventures, Korelya and Bright Pixel Capital alongside existing investors.
THEKER co-founder Carla Gómez Cano said the company was created to deliver robots that are ready to work from the first day of installation. She added that the new funding will help the company scale its operations and bring its technology to more industrial customers worldwide.
This is the latest large robotics funding deal unveiled this year. German robotics firm RobCo received €100 million to expand its manufacturing systems, and Sereact raised €93 million for growth of its robotics platform. Trener Robotics also raised €26 million to expand its industrial automation footprints.
THEKER is solving one of the biggest problems in robotics by making versatile technology available for real production environments, CRV General Partner Reid Christian said. He said that the company has already shown solid commercial traction along with its technical advances.
This funding schedule occurs less than 12 months after THEKER secured what had been the largest ever startup seed fund round in Spanish history. Novabus has rapidly transitioned from development to live industrial deployments throughout Europe.
The deal also represents a few milestones for investors. Samsung’s first investment in a Spanish company; one of CRV s first investments in Spain also comes, perhaps surprisingly, from LVMH who is also making its first ever investment in Spain Startups.
Founded by Carla Gómez Cano and Jiaqiang Ye Zhu, THEKER has developed industrial robots that are able to adapt their production line due to changes in production conditions without needing continuous manual intervention. These systems can manage various products, shapes and production requirements while handling the real-world conditions of the factory floor.
The company claims its robots can be up and running in a few days and improve while they work. The technology is already employed in manufacturing, envisioning and logistics environments across Europe.
THEKER states that its robots increase business productivity while decreasing downtime and addressing the ongoing workforce shortage. According to the company, increasing demand for flexible automation is opening up new markets for advanced robotics across industrial segments.
Business Outstanders brings you sharp insights on tech, business, entrepreneurship, law, crypto, and more. We uncover what’s next. Stay updated, sign up for our newsletter and be part of the future!
