Software company Wandelbots has raised $30M in a Series B round led by 83North and featuring notable co-investors including M12 – Microsoft’s venture fund and Next47.
The company’s prior investors – Paua Ventures, EQT Ventures and Atlantic Labs – also participated in the round with further participation of Haniel and Alexander Rinke (CEO Celonis).
Wandelbots has developed a technology platform that enables non-programmers to train industrial robots around the world to complete precision tasks. Customers range from large corporates like Volkwagen, BMW and Infineon to a wide range of small and medium-sized Enterprises from any industry.
Wandelbots will use the funding to help accelerate time-to-market for TracePen, the world’s first ‘no code’ handheld teaching device TracePen lets humans easily and quickly teach robots how to perform complex industrial tasks up to 70 times faster and with a fraction of the cost of traditional programming methods. The long anticipated official public launch of TracePen will take place online June 17-19 in a series of webinars.
The funding will also help meet the company’s global expansion plans. Wandelbots has recently experienced a surge in demand from international buyers due to the Covid-19 pandemic which has seen industrial supply chains collapse and a growing trend to start on-shoring key processes previously done overseas.
Gil Goren of 83North said: “As we enter a new era of robotics and automation, Wandelbots is revolutionizing this industry and is playing a leading role in reshaping manufacturing as we know it. We believe in the Wandelbots team to lead the way in this transformation and are excited to be part of the journey.”
Christian Piechnick, founder and CEO of Wandelbots, added: “The complexity, time and cost of (re)programming robots to adapt to changing market requirements has, until now, been hugely prohibitive. The advent of end-user programming has turned the market on its head. Robots can now be taught new skills in a matter of minutes, by learning from examples of skilled human operators with incredible precision and accuracy.
“Looking into the future, I’m absolutely certain that within the next 15 years robots will be established in every household in the same way smartphones were established within the last decade. We are paving this way by enabling everyone out there to show a robot what to do.”