Get to know fruitcore robotics
Get to know fruitcore robotics
fruitcore robotics GmbH has closed its Series B investment round, raising € 23 million from a consortium led by Capricorn Partners and XAI Technologies, together with new investor KOMPAS and existing investors Matterwave Ventures, CNB Capital (Constantia New Business GmbH), UVC Partners and a family office that continue to strongly support the company.
fruitcore robotics, based in Constance, Germany, was founded in 2017 and currently employs around 100 people. fruitcore empowers manufacturing companies of all sizes, especially SME to adopt automation in production and logistic processes.
Thinking back to the start of the company, what triggered the creation of fruitcore robotics?
Jens Riegger, fruitcore co-founder, managing director and CEO: As a team of five robotic enthusiasts we launched a prototype on the leading robotics trade fair in 2016. The feedback was overwhelmingly positive with more than 200 interviews that showed the clear demand for easy to use robots with high performance and an attractive price-performance.
fruitcore robotics has rapidly seen positive traction. What are some of the significant proof-points with clients about your solution and your approach?
Our user interface is unique as customers can realize simple as well as complex tasks without prior knowledge in robotics or PLC-programming. With our self-developed software, electronics and hardware we provide an end-to-end solution to program the whole process in one user interface. This reduces complexity in the purchasing process, set-up, operating stage and after-sales.
What are the next challenges and goals for the next phase of fruitcore robotics?
Patrick Heimburger, fruitcore co-founder, managing director and CRO: The next challenge is to expand all marketing and sales activities on an international scale. The launch of our Plug & Play solutions and further exciting product news in 2023 will be huge drivers that help us grow the business.
You talked to many potential investors. Why did you decide to have Capricorn and the other investors invest in fruitcore robotics?
Jens Riegger, fruitcore co-founder, managing director and CEO: The dialogue with Capricorn was very positive since the first day. We had lots of profound discussions on the robotic market, underlying trends and our technology stack. We share a common vision regarding the go-to-market strategy and regarding the development of fruitcore robotics as an organization.
We see in fruitcore robotics a company that rides the robust long-term trend of industrial automation with products that are well tailored to the market needs and are continuously evolving to adapt to the customer requirement.Ke Zhang, investment director Capricorn Partners
What are the reasons that drove Capricorn to invest in fruitcore robotics?
Ke Zhang, Capricorn Partners : We see in fruitcore robotics a company that rides the robust long-term trend of industrial automation with products that are well tailored to the market needs and are continuously evolving to adapt to the customer requirement. Combined with a passionate and focused management team with a proven track record of fast product development and go-to-market as well as solid operational management, we have all the ingredients of a future winner.
What are the reasons that other investors invested in fruitcore robotics?
Benjamin Erhart, UVC Partners: Since day one, we were intrigued by the impressive skills of the team. Jens and Patrick built an organization that unites outstanding product development skills across the entire Soft- and Hardware stack. They combine these skills with a customer centric DNA, that leads to offerings with short sales cycles and great product-market fit. Beyond this, the founder team managed to assemble a great team of professional and supportive investors around the table. As we met Capricorn, we realized we had a double win here, as the Capricorn investment team brings so much expertise and value to their investments. Ke is a sharp, experienced investor in relevant sectors that truly understands what it takes to build a winning automation business for a large, untapped customer group. We are looking forward to the cooperation and to further co-investments.
Robert Gallenberger, Matterwave Ventures: We at Matterwave Ventures tracked the Fruitcore team already for several years before our Series A investment. Late 2020/ early 2021 the team was finally able to show significant proof points regarding sufficient industrial maturity of the product offering, a sophisticated go-to-market strategy fully adapted to the target customer segment and the ability to execute ambitious product development projects on time and budget. Since then those elements were the basis for very strong revenue growth and we established a highly professional collaboration between the management team and the advisory board - all set for welcoming new investors Capricorn and XAI on this growth trajectory!
The next challenge is to expand all marketing and sales activities on an international scale. The launch of our Plug & Play solutions and further exciting product news in 2023 will be huge drivers that help us grow the business.Patrick Heimburger, CRO fruitcore robotics
What will be the first priority for this collaboration?
Ke Zhang, Capricorn Partners : Important next steps for fruitcore robotics include expansion into more international markets as well as to further develop the software and service part of the product offering. The company has been successful in fast, market-driven product development, we are confident that it can continue to execute and deliver.
How does the investment feel for you as a founder?
Jens Riegger, fruitcore co-founder, managing director and CEO : This investment feels like an important step in building a leading player in the international robotics market as we were able to win strong parties with lots of experience and network for fruitcore robotics.