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$5.9m

Valuation: $138m

-8.1x EV/EBITDA

Late VC
Total Funding000k

Financials

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Revenues, earnings & profits over time
EUR2018201920202021202220232024
Revenues0000000000000000000000000000
EBITDA0000000000000000000000000000
% EBITDA margin(372 %)------
Profit0000000000000000000000000000
% profit margin(472 %)------
EV0000000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget0000000000000000000000000000

Source: Company filings or news article

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More about OnRobot
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Based in the heart of Denmark's robotics cluster in Odense, OnRobot has strategically positioned itself as a key provider in the collaborative robotics market. The company was officially formed in 2018 through the merger of three specialized end-of-arm tooling (EoAT) firms: On Robot from Denmark, OptoForce from Hungary, and Perception Robotics from the United States. This consolidation, spearheaded by CEO Enrico Krog Iversen, former chief executive of Universal Robots, aimed to create a one-stop shop for collaborative applications.

The company's history is marked by rapid growth through strategic acquisitions. Soon after the merger, OnRobot acquired Purple Robotics in August 2018, incorporating its innovative vacuum gripper technology. In April 2019, it acquired the intellectual property and development team of Blue Workforce, another Danish company specializing in solutions for industries like food and agriculture. This series of acquisitions has enabled OnRobot to build a comprehensive and unified product portfolio under a single brand.

OnRobot's business model revolves around the design, manufacturing, and sale of a wide range of hardware and software solutions for collaborative robots, often called cobots. Its revenue is generated through the sale of these products via a global network of over 700 distributors and system integration partners. The primary clientele consists of small and mid-sized manufacturing companies seeking to automate processes such as machine tending, material handling, assembly, and surface finishing. The company operates in the industrial automation and robotics market, focusing on the end-of-arm tooling segment, which is crucial for the functionality of robotic arms.

The product line is extensive, featuring electric, vacuum, and magnetic grippers, force/torque sensors, tool changers, and specialized kits for screwdriving and sanding. A notable offering is the Gecko gripper, which uses micro-molding technology inspired by geckos to handle large, flat objects without traditional vacuum systems. OnRobot emphasizes a 'One System, Zero Complexity' philosophy, ensuring its tools are compatible with a wide array of robot brands and can be deployed quickly with minimal programming. More recently, the firm launched D:PLOY, an automated software platform designed to simplify the entire process of building, monitoring, and redeploying collaborative applications without extensive programming knowledge.

Keywords: end-of-arm tooling, collaborative robots, robotic grippers, industrial automation, force/torque sensors, machine tending, plug-and-produce, robotic finishing, manufacturing automation, cobot accessories

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Investments by OnRobot

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Blue Workforce
ACQUISITION by OnRobot Apr 2019
Purple Robotics
ACQUISITION by OnRobot Aug 2018