Pick-it, from Leuven, specialised in robotics, was granted a capital injection of 2,5 million euro. The means will be invested in sales & support and the build-out of a partnering network of distributors.
Pick-it, featured in our list of Start-ups to watch in 2018, develops a plug and play product consisting of a 3D camera, processor and software for industrial robots. This allows the robot to literally see what it’s doing; whether if it’s capping bottles on a conveyor belt or picking orders from a warehouse.
"In a market where about 300 000 robots are sold each year, only 10 to 15% of them have 'eyes'", Peter Soetens, Pick-It CEO mentions in a press release by the company. "This tells us that we still have a lot of margin to grow even further."
The funds come from investors PMV and Urbain Vandeurzen, chairman of the Board; "Pick-It aims to become the worldwide market leader in this fast-growing segment and we're delighted to support them from our investment fund."
Google, NASA, Continental and Procter & Gamble already relied on their product, and more than 100 clients the US, Europe and Asia have also showed an interest in this universal pair of eyes for robots. After just one year, Pick-It noted a revenue of 1 million euro, after starting out with an investment of their own. With about two million blind robots worldwide, there lies an enormous potential within healthcare, construction and mobility.