Blue Ocean Robotics raised $11.9M in more capital.

Blue Ocean Robotics, an Odense, Denmark-based robotics company, secured a new investment capital round totalling DKK 80M ($11.9M).

The funding was supported by new and existing investors, in a round valueing the company at 800 million DKK ($120M) The announcement is made in conjunction with the acquisition of all assets and rights associated with Beam from Suitable Technologies, Inc. in Silicon Valley.

Backers included a major investment by the family of one of Odense’s most renowned business people, the late C.C. Nielsen, the founder of Micro Matic, which has been a driving force for the business development in Funen. Also joining the investment round are owners of Funen-based companies Plus Pack and Juliana Drivhuse, Steen Haustrup and Bo Stærmose.

Blue Ocean Robotics, founded in 2013 by CEO Claus Risager, Rune K. Larsen and John Erland Østergaard, developed a robotics hub, whereby it manufactures its robotic technologies across various businesses and applications and then uses skills and network available for the partnering companies in exchange for royalties and co-ownership when the robot is ready for the market.

Prior to this deal, Blue Ocean Robotics raised $23M from outside investors.