Innok Robotics
Regenstauf - July 2022

INNOK Robotics started raising up to €10m to realize a fast go-to-market and scale-up

Innok Robotics is a technologically leading German autonomous mobile robot (“AMR”) company, offering a platform for multiple professional applications in indoor and especially outdoor environments with enormous growth potential. Innok Robotics is a portfolio company of Prolimity Capital Partners.

In order to accelerate its go-to-market and scale-up, Innok Robotics has mandated EY as exclusive advisor, supporting a fund raising of up to €10m. Innok is seeking interest from financial VC funds as well as from corporate VC providers.

Innok Robotics revolutionizes AMRs for indoor and outdoor operations based on its scalable and modular robot platform combining software and hardware excellence.  Whereas quite some indoor AMR producers have come to the market, only a very small number of players are able to cope with reliable self-localization and navigation of its AMRs in outdoor environments. Innok’s mobile robots in contrast can operate on any terrain and weather condition - and are therefore able to combine indoor with outdoor applications thus enabling new, seamless intralogistics and transport processes resulting in rapid ROI for the Innok’s customers.

Innok Robotics – the company

Founded in 2012, headquartered in Regenstauf/Regensburg (Germany) Innok commands a highly experienced tech team with an aggregate of >100 years of expertise in autonomous mobile robotics. The company is one of the global market leaders in mobile outdoor robotics with a clear competitive advantage towards pure indoor robotic robot producers: Since 2019 three autonomous mobile robots for intralogistics, agriculture/irrigation and inspection have been fully developed and in regular productive use since the beginning of 2021. All pilot customers are very satisfied with the performance of Innok’s cutting edge AMRs, so that the industrialization and scale up of sales of those three AMR products will start as of now.

Technical background for Innok Robotics’ AMRs is a perfectly integrated, reliable, scalable and autonomous mobile robot platform (HEROS) developed in 2012 which provides a cost-effective, fully automated / autonomized, environmentally friendly, and safe replacement of manual workflows. Innok’s market leading autonomy software INNOK COCKPITTM is generally based on ROS/ROS2 as the fundament, but has of course been developed further and optimized over 10 years thus – well integrated with high class 2D and 3D LIDARs laser scanners and other navigation technologies – commanding superior mission control, navigation capabilities and excellent flexibility and also usability for non-technical end users.

The customers

Various applications for all-terrain robots in indoor and outdoor environments, even salt mines, have been developed over the last 10 years: For large industrial customers like Daimler, Kali+Salz (K+S), Hilti, Stihl Group, IAV engineering, Bayernwerk/EON, ZwickRoell Group. But also for RWTH Aachen University, Deutsches Forschungszentrum für Künstliche Intelligenz (German Research Center for Artificial Intelligence), TUM Technische University Munich, TU Berlin, TU Braunschweig, TU Bergakademie Freiberg, Universität der Bundeswehr and other highly reputable German research customers, which have bought Innok Robotics‘ AMRs.

 

Envisaged growth financing

The AMR market, particularly in intralogistics, logistics & warehousing is projected to grow by 50%+ CAGR for the coming years. Innok Robotics is now raising up to €10m to realize a fast go-to-market and scale-up, taking advantage of growth opportunities via significant buildup of a national and European sales team and partner network, further market expansion to economically attractive application areas as well as enhancement of existing AMR solutions and product innovation.

Innok is seeking interest from financial VC funds as well as from corporate VC providers, the latter possibly interested in (may be exclusively) partnering together with Innok Robotics in various attractive application fields. In addition the Company is currently raising mezzanine based growth capital from private investors. The target volume is €500 - 800k and will enable a quicker scale up, e.g. bringing new sales managers and application engineers on board before the growth capital funding round will be closed in in Q3/2022.

The mezzanine will be equipped with an market adequate interest rate and a one time conversion right into equity upon closing of the large growth capital funding. Thus private investors will be offered access to an attractive participation in this German cutting edge robotics opportunity, otherwise reserved for institutional corporate and/or financial VC investors.

More information on Innok Robotics is available on www.innok-robotics.de.

Peter Mauritz (peter.mauritz@innok-robotics.de, Mobil +49 173 476 0015)