Collaborative robot arms startup Niryo raises €10 million to continue international expansion push

Niryo, a French startup specialising in the design of compact collaborative robotic arms, has announced a €6.4 million round of financing.

The Series A round was led by the BPI Digital Venture investment fund, the Innovacom investment fund, and IRD, Finorpa, NFA and Go Capital.

It is backed by €3.6 million in loans provided by a banking pool.

The cash will be used to continue the firm’s international expansion and address new use cases.

Companies that have adopted Niryo’s cobots include Airbus, Deutsch Bahn, Siemens, Solvay, Coca-Cola and Texas Instrument.

Marc-Henri Frouin, CEO at Niryo, says  “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 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,” says Alban Nénert, Business Manager at Innovacom.

"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 democratise the use of cobots in many sectors, beyond the traditional uses of robotics in industry," says Marion Aubry, Investment Director at Bpifrance Digital Venture.