OnRobot completes a growth equity investment round from Summit Partners.

Denmark Investments 29 August 2018
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OnRobot, an Odense, Denmark-based company manufacturing of end-of-arm tooling (EOAT) used in collaborative robot systems, announced getting into an investment agreement for adding growth capital into the company. 

The investment round was led by private equity company Summit Partners, with participation from existing investors including Vaekstfonden (The Danish Growth Fund).

The funding will help support OnRobot’s continued international growth and expansion of its product portfolio.

The announcement comes shortly after OnRobot merged with two other companies, backed by a $15.6M capital investment provided by Enrico Krog Iversen and Vækstfonden. The new company combines U.S.-based Perception Robotics, Hungary-based OptoForce, and Denmark-based On Robot to become OnRobot, which will focus on the ease-of-use for robotic end-of-arm tooling.

OnRobot, founded in 2015 in Odense under the management of Enrico Krog Iversen, aims to create a one-stop-shop for advanced collaborative applications with true plug & play functionality. The company is a provider of hardware and software that help customers take full advantage of the benefits of collaborative robot applications: ease of use, cost-effectiveness and safe use alongside human workers. OnRobot integrates grippers, sensors and software to facilitate the deployment of robots in a broad set of industries and end-use collaborative applications, including packaging, quality testing, material handling, machine tending and assembly.