Shape Robotics closes a DKK 5M investment round, looks for international expansion.
Shape Robotics, a Copenhagen, Denmark-based robotics company closed a DKK 5M ($790k) investment round. The deal valued the company at DKK 29M ($4.6M) and is supported by the existing founders of the company, namely Moises Pacheco, Morten Baggesen, David Johan Christensen and Helen Hald Christensen.
Shape Robotics, led by CEO David Christensen, was started in 2011 as a PhD project and in 2015 was transformed into a business with funding from the Technical University of Denmark and from the Danish Ministry of Education.
The project consisted of Fable, a robotic construction system that makes it easy for anyone to create their own robots aimed to be used for education purposes by pupils from 8 to 18 years of age.
The system is made of three modules, which give the robot functionality such as movement or senses. Pupils develop a computer program that applies the modules’ functionality to give the robot the desired behaviour. The modules contain a rechargeable battery and a small computer, and they communicate wirelessly with a dongle. The dongle can be linked to a computer via a USB or a tablet via Bluetooth.
SInce starting the company, Shape Robotics launched about 250 robots delivered to education instituions from Denmark, and now is preparing for growing internationally.
In 2015, Shape Robotics received $230k from Syddansk Innovation, a state-owned Danish incubator.