Early Stage Companies – Invert Robotics | TIN – Technology Investment Network

What have been the key highlights for Invert Robotics over the past year?

Invert raised $13M in funding to fuel our expansion into the US Chemicals market. The two key investors were Finistere Ventures and Yamaha Motor Ventures who bring with them invaluable industry knowledge and connections that will accelerate our growth in this new market.
Invert has expanded its food and beverage services business globally. We have now delivered services in 20+ countries and provide services to 7 of the top 10 largest dairy companies in the world.
Invert has released a new version of the robot that can climb rough surfaces such as etched and dirty tanks. These new capabilities mean we can service a wider range of industrial assets in current and new industries.

How many funding rounds have you had in that time, and where has the funding come from?

Since we began in 2010 we have raised almost $25M in capital. We have been backed by private investors, local and international institutional investors and the New Zealand government.

Have staff numbers increased over the past year? In what ways has this impacted on how the team operates?

We currently have 35 staff with another 8 new positions expected this year. Our rapid growth has had a huge impact and it has forced us to mature as a business. We have had to implement systems and processes, strengthen internal communication and define our culture.

Have you increased your number of offices over the past year? Where are your new offices?

We have offices in NZ, the Netherlands, Germany, France and Australia. Our growth plan includes opening additional sales/service/support offices in new regions.

What is Invert Robotics' focus for the next 12 months?

We have two keys areas of focus for the next 12 months. In the Food and Beverage industry, it is all about sales. We now have a global services team who can deliver services anywhere in the world and we are positioned to double revenue in this industry in the next 12 months.

Our second focus is in the US chemicals market where we intend to build a significant market presence in the next 12 months and drive customer acquisition.

What has been the biggest challenge you've faced over the past year and how did you overcome it?

We have had some growing pains over the last year. Recruiting international talent, retaining our company culture, prioritising opportunities and resourcing growth have all been challenging at times. We have sought out external expertise to help us overcome these challenges and we rely heavily on our excellent Board of Directors and advisors to guide us.