Experienced investors invest millions into On Robot

Invest in Odense cases

In 2016 more than 100 million Euros were invested in robotic companies in Odense. In 2017 the investments continue. On Robot got experienced investors on board and is ready to conquer the global market.

The Odense based company On Robot has developed two collaborative grippers (RG2 and RG6), which are easily mounted on robots from Universal Robots. The new RG6 gripper was presented at the Hannover Messe last week.
“It is our clear intention to become a leading supplier of collaborative grippers for cobots. On Robot has developed a unique product that simplifies a complex task by being plug-and-play and very easy to modify”, says Torben Ekvall, new CEO of On Robot.

And it seems the market believes in On Robot. An experienced team of investors with vast knowledge of the robotic environment, including The Danish Growth Fund, Enrico Krog Iversen, former CEO of Universal Robots, and Thomas Visti, CEO of Mobile Industrial Robots, have recently put millions into the company.

Odense Seed and Venture – a part of Invest in Odense that bridges the gap between startups and investors in Odense – assisted in the process by providing strategic management, professionalization of the company, helping with the investor pitch and matching the company with investors from the Investor Network.

As a result of the process, founders Bilge Jacob Christiansen and Ebbe Overgaard Fuglsang decided to hire a new CEO to the company. Torben Ekvall, CEO, is also co-investor in the company. He sees a lot of opportunities in Odense and has decided to move from Copenhagen to the hometown of Hans Christian Andersen. But mainly he sees a lot of growth opportunities in On Robot. “In the company we have now gained access to some powerful resources within robotics, including Enrico Krog Iversen, who with his experience from Universal Robots has thorough knowledge and understanding of the industry”, says Torben Ekvall.

The growth is happening
And for On Robot, growth is no longer just an ambition – it is happening! Due to their new hires, On Robot has outgrown their former offices and have moved into new facilities. A building that also houses Egatec, another robotic company in Odense. A great example of the collaboration among the robotic companies in Odense. “For us as an established company it is very valuable to have a startup like On Robot in the house. It gives a little push to our innovation and optimism. And we can help them with our experience, so it’s a win-win situation”, says Mads Nychel, CEO of Egatec.

According to Bilge Jacob Christiansen, COO of On Robot the optimism is valid. “Traditional solutions within this area work mainly by compressed air, which requires a lot of space, is energy consuming and too complex for many users. With our collaborative gripper, we have developed an electric solution that is easy to install, is very flexible and can be modified by an employee in e.g. a production hall without the use of a programmer,” says Bilge Jacob Christiansen, who expects the company will expand the assortment to interact with other collaborative robots.

On Robot has just been selected as one of three candidates to win the Automation Prize 2017 awarded by Danish Industrial Robot Association. The prize goes to a person or team that has made a significant contribution to increase the competitiveness of one or more Danish companies and the maintenance of jobs through automation based on robotics in a groundbreaking way or by contributing innovatively to the development of robotics.

Further Information:

Investment Manager
Michael Hansen
+45 2341 4007