Invert Robotics Raises €10 Million in New Fundraising Round with Orlen VC – The CVC Fund of One of the Europe’s Leading Energy Companies PKN Orlen Joining as New Investor.
Invert Robotics, a global robotic inspection leader and technology pioneer headquartered in Dublin, Ireland has successfully secured approximately €10 million in new investment to facilitate accelerated growth through the development of further innovations and expansion into new sectors and industries.
This latest funding round was led by Orlen VC, the corporate venture arm of PKN Orlen, Poland’s largest company and one of the leaders in European oil&gas and energy industries.
Orlen VC’s strategic investment in Invert Robotics will facilitate a deeper partnership between both parties whereby Invert Robotics shall cooperate with PKN Orlen’s to undertake its R&D activities as part of the continued development of its growing services to the chemical and energy sectors. In what is a highly complementary partnership, PKN Orlen will seek to leverage Invert Robotics’ pioneering technologies to provide greater efficiency and higher utilisation of infrastructure, while also delivering an immeasurably safer method of inspection for their complex and high value assets.
This funding round was also supported by existing investors of Invert Robotics including Inception Asset Management and ICOS Capital.
Commenting on the announcement, Neil Fletcher, Managing Director, Invert Robotics said “We’re delighted to have closed another successful funding round, retaining the support of our existing investors across the globe, and securing an exciting new strategic investor in Orlen VC. This capital will enable us to continue building our offering across multiple sectors through the continued development of technologies, including our artificial intelligence platform which reinforces our position as the global innovator and leader in this space.”
“In addition, we are excited about deepening our ties with our newest investor, Orlen VC, where we look forward to trialling our latest technologies and innovations across their very significant oil&gas, chemical and energy production operations. We also see a great opportunity to become a part of PKN Orlen’s vast supply chain and partner network where we believe we can add significant value while also further expanding our footprint in the chemicals and energy sectors.”
Invert Robotics already counts some of the world’s largest food production, aerospace, pharmaceutical, chemical and energy companies among its customers, making the process of inspecting and maintaining their high-value industrial assets, which are often in hazardous, hard-to-reach or toxic environments, more precise, efficient and significantly safer than existing processes or technologies.
Invert Robotics was advised by Deloitte as financial and commercial adviser and Beauchamps as legal adviser.