Robotics and AI specialist completes funding round – Insider Media

Jacques Bonfrer

A digital marketplace for robotics and AI services has completed a six-figure equity funding round.

Bot-Hive connects SMEs with the best automation technology for their business and shows them how to introduce robots to their workflow processes.

The round was led by new investor the Development Bank of Wales with an investment of 250,000 - with continued further investment from its pre-seed lead investor Britbots, a specialist robotics, artificial intelligence and automation business investor.

Six new angel investors also participated in the round.

Bot-Hive has used the funding to open its headquarters in Cardiff on Wellington Road. Three existing staff, along with three new hires will be based in its new offices.

The start-up also uses a hot-desking facility at the Bristol Robotics Laboratory at the University of West England and has a European presence in Amsterdam.

Chief executive and co-founder Jacques Bonfrer said: "We are delighted to have closed this round of fundraising and very pleased to welcome the Development Bank of Wales, as well as the new angel investors.

"We've worked closely with them all over the last few months and they have shared our excitement as we demonstrated how we intend to provide a unique platform for all those consumers in the robot industry."

Funding for this equity round came from the 20m Wales Technology Seed Fund.

Sarah Smith, technology investment executive for the Development Bank, added: "Automation and robotics have a crucial role in the future of multiple industries not only in Wales, but throughout the UK and globally. Bot-Hive is a conduit between the automation industry and businesses.

"The Bot-Hive team is ideally placed to play an influential role in this sector over the coming years. They have a clear growth strategy and industry knowledge and we are delighted to be able to support them through the Wales Technology Seed Fund."

Dominic Keen of the Britbots Sidecar Fund said: "We are delighted to be able to continue to support Bot-Hive's roll-out. They have an extremely important role to play in the post-pandemic economy with the increasing importance of higher levels of automation."

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Robotics and AI specialist completes funding round - Insider Media