Pick-it receives 2.5 million euros growth capital
Pick-it, a Leuven scale-up, acquires a capital injection of €2.5 million from Urbain Vandeurzen and PMV to reinforce its ambition to gives eyes to robots all over the world. This will allow Pick-it to continue and intensify its steep growth curve of the past two years. Through its innovative 3D camera and accompanying software the company enables extensive automation in all organisations with industrial robots. “Pick-it has the ambition to become the global market leader in this fast growing market segment and we are pleased to support them through this investment from our family investment fund,” states Urbain Vandeurzen, who will become president of the board of the company.
With its innovative 3D cameras, accompanying software and engineering projects the company makes extensive automation accessible for a wide array of organizations with industrial robots. The Pick-it 3D cameras and software allow robots of all major manufacturers to see and grasp objects in their surroundings. The artificial intelligence that drives the Pick-it software enables the full automation of several industrial processes such as bin picking, machine loading and depalletizing. The product has been able to convince a number of established world leaders in manufacturing: Saint Gobain, Continental, Procter & Gamble and Hutchinson have working Pick-it products in their production departments. Furthermore the product appeals to a large number of SMEs all over the world, especially in combination with the user friendly robots of Universal Robots. It is this strategy of ‘follow the robot’ that grows the company: wherever robots are sold, a Pick-it solution should be available too.
To realize this continued growth Pick-it wants to focus even more on building a global partner network of local distributors and invest further in its internal sales and support organization. “This capital injection of €2.5 million allows us to realize our ambition to give eyes to robots all over the world. In a market where 300.000 industrial robots are sold worldwide every year, but only 10-15% are outfitted with a camera, we have a strong growth trajectory ahead of us,” Pick-it CEO Peter Soetens explains.
“As a young robotics company Pick-it has exceptional potential”, according to Urbain Vandeurzen. “They have a proven track record of delivering their innovative robot vision systems across the globe. Their ambition to become the global market leader in this segment makes them a promising investment that we proudly support through this capital injection and our extensive experience in successfully managing fast growing technology companies."
Roald Borré, Head of Equity Investment bij PMV concurs: “Robotics and artificial intelligence will undoubtedly have an impact on our industrial, economic and social tissue. PMV is delighted to assist Pick-it in the next steps in its growth process.”
By giving eyes to robots Pick-it wants to simplify the process automation of a large number of production companies. Their innovative 3D camera and AI powered software allows robots to grasp, move, manipulate or process objects in an automated process. www.pickit3d.com