Innok Robotics valued at 14 million euros

Since spring it was known that Innok Robotics GmbH, provider of mobile robots, is looking for money. The target was - at least officially (basis for negotiation?) - 10 million euros(link).

5 million euros from quite extraordinary investors

Innok Robotics or its predecessor company was founded at the beginning of the last decade and focused on mobile outdoor robotics early on. In my opinion, this was done more from a research and development perspective. A real market entry did not succeed, which was certainly also due to the fact that they were ahead of their time. The mobile robots inevitably cost a higher amount (80,000 to 100,000 euros), but for a long time they had only a reduced usefulness as a result of the limited storage capacity of the batteries. The robots are heavy and the outdoor surface causes different friction than a smooth warehouse. The operating time after one charge was therefore not satisfactory until 1 or 2 (?) years ago. In addition, there was perhaps also the lack of market view industry.

This led to the company getting into difficulties and Prolimity Capital Partners stepped in with 80% (see below). This secured the financing for the time being, but it was clear that a stronger investor was needed. Now, 5 million euros could be collected in the course of a capital increase of about 50%. Prolimity continues to hold the majority, the largest minority shareholder is now Heinz Ferchau, known for his engineering offices. The special feature: At the age of 81, he has acquired a stake in a technology of the future. The Handelsblatt quotes him as saying, "I was particularly impressed by the outdoor capabilities of Innok Robotics' AMRs, which I have never seen anywhere else."

Cautious investor has made financing possible

From my external perspective, Peter Mauritz, the representative of Prolimity Capital Partners, did everything right. He sought contact with the media and openly announced that he was looking for investors. Thus, Innok Robotics suddenly showed a presence. Be it here in the blog, in the robotics podcast, at the Leipzig Robotics Festival or at various trade fairs. This approach clearly differs from that of other investors who search discreetly (e.g. DaVinci Kitchen, Leipzig-based company is now searching from Geneva).

And above all: Peter Mauritz proceeded very cautiously during the public appointments. He took the initiative in the conversation and then passed on to Alwin Heerklotz, the founder and technical head.

Valuation probably also a consequence of the environment

In May, when Innok Robotics first started a public search for capital (on this website), a target of 10 million euros was mentioned. The fact that it has only become half this amount is probably due to the unfavorable environment and Prolimity's efforts to continue to hold 50%. Considering the sales forecasts (1 million this year, 15 million in 2025, 100 million in 2030), the need for growth and loss financing should be rather limited. Salary costs around Regensburg are lower than in Munich, while the quality of life is actually better. (Nevertheless, Regensburg is booming).

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The author of this blog is significantly involved in the AI/robotics project Opdra. He answers companies the question if and how a robot could be used in your company (initial analysis including recommendation). He does this nationwide in Germany at a flat rate of €1,750 net (incl. travel). The low price is possible thanks to funding. Permanently on the lookout for interesting solutions, he has already seen hundreds of applications. For this reason, his customers also include large companies that have know-how but do not know the entire market. For companies with 250 employees or more or those based in Austria or Switzerland, the flat rate does not apply. You can find more about him here.