Fruitcore Robotics raises 23 million euros

The robotics start-up now wants to use the money to tap into the European market.

Constance-based start-up Fruitcore Robotics has closed its Series B financing round with 23 million euros. The new investors include investment firm Xai Technologies and international VC firms Capricorn Partners and Kompas, among others. "We believe in investing in people and ideas that accelerate the digital transformation of the manufacturing industry," said Kompas partner Andreas Strasser, explaining the investment. "This will help address labor shortages and reduce waste." Existing investors are also participating again in a united manner, according to Fruitcore. Last year, the startup raised €17 million in its Series A financing round.

The robotics startup plans to use the fresh capital to further expand product innovation, sales and marketing. Fruitcore also plans to continue expanding internationally. So far, the company offers its products in the DACH region and in Italy. It says its goal is to tap into the majority of the European market by the end of 2023.

Fruitcore was founded in 2017. Its more than 100 employees produce intelligent robotics solutions, particularly around the "digital robot" called Horst. The start-up aims to drive automation in companies to meet the shortage of skilled workers and the need for digitization. The offer is also aimed at small and medium-sized companies; Fruitcore has a total of more than 60 partner companies from 29 industries.