Niryo raises €10 million to continue its international expansion

Lille, France, October 10, 2023, Niryo, the industrial start-up specialized in the design of compact collaborative robotic arms, announces a €6.4 million round of financing, marking a new stage in its ambition to revolutionize the collaborative robotics industry on a global scale.

This Series A financing round, led by the BPI Digital Venture investment fund, the Innovacom investment fund and 4 other historical funds (IRD, Finorpa, NFA and Go Capital), aims to support Niryo’s growth, particularly by addressing new use cases, developing a range aimed at professionals, and consolidating its international expansion. This financing is complemented by €3.6 million in loans provided by a banking pool.

Niryo raises €10 million to continue its international expansion

Since its creation, Niryo has gained an international reputation for its accessible collaborative robot arms and its Niryo Studio application for controlling them, combined with an approach focused on engagement and proximity with its customers. Its latest robotic arm, NED2, is used and approved worldwide, notably by the education, research and training sectors. Many international companies have also adopted Niryo cobots, including Airbus, Deutsch Bahn, Siemens, Solvay, Coca-Cola as well as Texas Instrument.

Guided by the bold vision of its founder, Marc-Henri Frouin, the company has demonstrated an unwavering commitment to the democratization of cobotics, robotics made to work with humans. Its mission? To work towards a new, more resilient and more human-oriented form of robotics.

Marc-Henri Frouin, CEO of Niryo, speaks enthusiastically about this new step: “At Niryo, we are driven by a deep conviction in the power of technology to shape a more sustainable and humane future. Niryo makes collaborative robotics accessible to all, and promotes a more resilient vision of technology. With this fundraising, we continue to write our history by pushing back the limits of what robotics can achieve. It is also an opportunity for us to demonstrate that collaboration between man and machine is the key to innovation in all sectors.”

This €10 million round of financing reinforces the start-up’s ongoing development. With a team of some forty employees, Niryo remains deeply rooted in Lille, France. Indeed, the company continues to favor the use of French products and maintains an in-house assembly process, reinforcing its commitment to national innovation.

“This investment, which we are delighted to announce, is fully in line with our investment philosophy: to support innovative and ambitious industrial projects in our regions. Based in the Hauts-de-France region, Niryo’s products contribute to the development of Industry 4.0 in France, not least through local production. Thanks to its affordable, robust robotic solutions, Niryo offers a wide range of use cases, making industrial robotics, until now reserved for large companies, accessible to smaller structures”, explains Alban Nénert, Business Manager at Innovacom.

Today, Niryo has a presence in over 70 countries, with a strong footprint in the US, Germany and the UK markets. Its latest development, the “NED 2” educational robot, offers an accessible and compact solution for training engineers. This small, lightweight robot can simulate real-life industrial scenarios by connecting several units. Engineering schools and research centers are the main customers for this product, reflecting Niryo’s desire to shape the future of robotics through education and research.

“We’re convinced that the cobot market is set for strong growth over the next few years. Thanks to its range of lightweight, space-saving, easily programmable collaborative robots with a simple UX, Niryo seems ideally positioned to democratize the use of cobots in many sectors, beyond the traditional uses of robotics in industry,” explains Marion Aubry, Investment Director at Bpifrance Digital Venture.

This new phase of financing opens the way to a promising future. It’s an opportunity for the startup pioneer in the educational robotics market to extend its expertise and range of robots to the needs of the professional sector. The company remains committed to transforming collaborative robotics into a sustainable strength, with the main goal of reinforcing the impact of technology while preserving humanity at the heart of every advance.

It is with this in mind that Niryo is opening 20 permanent positions to carry out its ambitious projects.

About Niryo

Founded in 2017, Niryo is a leading startup in the field of collaborative robotics. Specialized in the conception of compact and affordable robotic arms, as well as in the development of innovative software solutions. Since its creation, the company has constantly evolved and improved its flagship product, the Niryo One educational robot, which later became “NED” and then “NED2”.

What sets the company apart is its commitment to robotics that do not seek to replace humans, but to collaborate with them. Guided by the vision of CEO Marc-Henri Frouin, the company promotes harmonious interaction between man and machine. Based in Lille, France, Niryo strives to redefine the standards of collaborative robotics on a global scale.

For more information, visit https://niryo.com/ or follow Niryo on social networks.

About Bpifrance and the Digital Venture fund

Bpifrance’s equity investments are managed by Bpifrance Investissement. Bpifrance finances companies at every stage of their development, and supports them in their innovation and international expansion projects.

Bpifrance Digital Venture is the team in charge of venture investments in innovative technology companies in the digital sector with the ambition of becoming international leaders in their market. It supports these companies at the seed, Series A and Series B stages. With €700 million under management, Bpifrance Digital Venture has invested in over 110 companies and completed more than 25 disposals since 2011. The team has invested in companies such as Talentsoft (Cegid), Netatmo (Legrand) and Meilleurs Agents (Axel Springer).

For more information: www.bpifrance.fr – https://presse.bpifrance.fr/ // @Bpifrance – @BpifrancePresse

About Innovacom

Innovacom is a pioneer of innovation capital in France. Since 1988, it has invested close to a billion euros, supported over 300 digital and high-tech startups, participated in more than 20 IPOs and completed over 150 industrial divestments. The team, with its long experience in cutting-edge technologies, has contributed to a number of recent successes in multiple sectors (telco, healthcare, mobility, energy…) and boasts a solid track-record including unicorns such as Heptagon and Soitec.

Today, Innovacom supports innovative industrial projects and high-potential disruptive technologies by providing financing, advice and support. Its association with Groupe Turenne has given? birth to one of France’s leading independent private equity firms, with a platform of €1.4 billion under management. With offices in Paris and Marseille, Innovacom Gestion is accredited by the Autorité des Marchés Financiers.

For more information: www.innovacom.com // @innovacomvc

Find more articles here.