Investors have been eager to pour money into deeptech in the last year — and robotics has been a particular area of interest among VCs. European startups building a variety of tech from unmanned ground vehicles for use on the battlefield to household robot helpers have raised $2.1bn so far this year, according to Dealroom data, topping even 2021's $2bn haul.
The bulk of 2024’s funding came early in the year, with large raises like Norwegian OpenAI-backed robot helper startup 1X’s $100m round in January and automated manufacturing robots startup RobCo’s $43m raise in February.
Some investors see more room to grow for these startups, but others are eyeing more emerging robotics companies to disrupt the market. Sifted polled three VCs for their top picks of robotics startups to watch — with the catch that they couldn’t nominate any companies in their portfolio. Responses were edited for clarity.
Maximilian Ochs, VC investor at First Momentum
First Momentum is a German preseed VC firm that invests in B2B startups and deeptech, including space tech and quantum. The firm writes cheques between €200k-1m.
1X — Norway
1X is probably the European humanoid robotics company. With over €100m in fresh capital and strong ties to OpenAI, 1X is pursuing a holistic approach to humanoid robotics that includes hardware and software.
ANYbotics — Switzerland
ANYbotics is offering four-legged robots to automate inspection processes in heavy industries such as oil and gas as well as chemicals. Due to hazardous environments and increasing labour shortage, these industries are especially interested in robotic solutions.
Telekinesis — Germany
Telekinesis is an early-stage startup from Germany developing a programming platform that allows users to teach robots with purely visual input (e.g. gesture or video). This is especially interesting in high-mix, low-volume applications where frequent reprogramming is desired — mainly small manufacturing companies that make a lot of changes to their assembly lines (some even change the manufactured parts on a daily basis); other applications include visual inspection in the metal industry (where different type of parts need to be scanned).
Mimic Robotics — Switzerland
Mimic Robotics is developing foundational AI models to bring intelligence to industrial robots in retail and manufacturing. The robots can then learn a variety of tasks from simply watching videos. Mimic has also developed its own robotic hand hardware, but it is the intelligence side, where they set themselves apart.
Christian Noske, partner at NGP Capital
NGP Capital invests in early-stage B2B companies in enterprise software, industrial tech, cybersecurity and infrastructure. The firm invests in Series A and above in Europe, the US, Israel and China.
Saeki — Switzerland
Saeki is building highly automated factories that can run without needing people on-site. These factories use digital tools and robots for end-to-end automation to handle tasks like 3D printing, machining and inspecting large, functional parts. The team comes from ETH Zurich.
Shark Robotics — France
Shark Robotics specialises in the design and manufacturing of fire safety, security, nuclear, and space robots. Their robots operate in hazardous environments to improve safety and efficiency, ultimately aiming to save lives through technology. Founded in 2016 in La Rochelle, France, they have a strong focus on sustainable development goals and have deployed over 350 robots worldwide in more than 15 countries.
ARX Robotics — Germany
ARX Robotics focuses on developing autonomous mobile robotic systems for both defence and commercial applications. The company aims to enhance operational capabilities through scalable robotic solutions that can be deployed in various scenarios (like gunshot simulations for training, medical evacuation and supplying troops on the front lines). ARX is a spinout from the German Armed Forces.
Gravis Robotics — Switzerland
Gravis Robotics is developing an autonomous platform for heavy industrial vehicles and machinery using technology developed at ETH Zurich. Automating these vehicles could help curb labour shortages and improve safety and efficiency within the construction, mining and agricultural industries.
Guilhem de Vregille, partner at XAnge
XAnge is a Franco-German fund investing in early-stage deeptech, fintech, digital consumer, and enterprise and data startups. The firm typically invests €1-10m cheques and has €600M in assets under management.
RobCo — Germany
Robco is pioneering modular robotics, making automation more accessible and adaptable for small and medium-sized businesses.
Niryo — France
Niryo democratises technology by providing affordable robotic arms for both education and industry. Niryo’s six-axis collaborative arm robots perform repetitive tasks (they can be used by teachers in classrooms to teach robotic programming as well as conveyor lines).
Tplusone — France
The Tplusone team addresses the opportunity of using humanoid robots in factories to increase productivity. Right now, the hardware is almost ready, but software remains a challenge. Focusing on the latter, Tplusone aims to develop a complete brain for humanoids, making them as versatile as humans and enabling them to perform any physical work. (Editors note: Tplusone is a new startup in stealth from founder Camille Croze.)
The companies with missing information were contacted and the data provided is as complete as possible.
