German B2B robotics startup coboworx has secured €11.4M to help companies integrate robotics into their digital architecture without prior robotics expertise.
The funding will be used to expand coboworx's team of robotics experts and software engineers, enhance its product offerings, and enter new markets. Additionally, the company plans to open an office in Munich later this year.
coboworx’s customers include large food retailers that require a steady supply of goods. The modular design of the robot system enables SMEs to start with specific solutions for individual process steps and expand as needed. Future developments will include applications for welding, packaging, and material flow in intralogistics, in addition to current solutions like palletizing and machine loading/unloading.
The German economy, particularly SMEs, faces a significant shortage of skilled workers for physically demanding and repetitive tasks. This limitation is mainly due to the robotics industry's historical focus on large enterprises, neglecting the unique needs of SMEs. coboworx aims to solve this problem with a platform tailored specifically for SMEs.
Georg Stockinger, Partner at SquareOne, commented on the raise: "With its solution, coboworx operates in a vast, undigitized market that can ultimately only be addressed with an end-to-end solution. Simplicity throughout the entire process—from purchase to deployment, use, and financing—is crucial.
“The team has not only developed a technological solution but also an attractive rental model that brings it directly into SME production halls with little to no up-front investment. We are excited to continue supporting coboworx on its growth path."
Andy Bender, founder of Northstar Family Holdings, added: "Manufacturing is undergoing a revolutionary change both in Europe and the US. Due to personnel shortages, the market is ready for robotics on demand—made in Germany. coboworx is leading this movement, making complex robotic technologies affordable, accessible and intuitive to use. Their modular platform is more than a solution; it is a catalyst for industrial change with the potential to reshape the global manufacturing landscape."
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