Germany-headquartered Bowe has led an $8.2m (£6.97m) investment round in Israeli start-up Mov.AI.
Mov.AI’s technology allows Autonomous Mobile Robots (AMRs) such as those used in warehouses and industrial automation to be deployed more quickly and easily, compared with existing systems which were described as “monolithic and inflexible” because the software is tightly linked to the robot hardware.
By contrast, Mov.AI’s Robotics Engine Platform offers out-of-the-box tools and infrastructure “to develop unique, easy to deploy AMR software at a fraction of the time and cost”, including a 3D simulator that allows users to test robot software without the need for a physical robot.
Bowe is an existing integration partner and has used Mov.AI’s technology itself at its Bowe Intralogistics conveyor systems business.
Bowe Group managing director Joachim Koschier commented: “We are extremely bullish on Mov.AI’s ability to modernise the robotics market, a market that is a key pillar in modern industrial automation and is poised for hypergrowth.”
He said that the Robotics Engine Platform “enables smooth human-robot collaboration in automation projects – something that Bowe Group experienced firsthand as a customer”.
Koschier added: “The digital transformation occurring in the intralogistics space requires flexibility, operational agility, and maintainability. Mov.AI provides the complete infrastructure and tools required to create and operate fleets of any AMR.”
Mov.AI CEO Motti Kushnir said the business was excited to have Bowe on board as an investor, and thanked its existing backers for their ongoing support.
“Bowe Group is a leader in the world of intralogistics and automation. Their knowledge and expertise will drive forward MOV.AI’s ability to meet customer needs and extend our market reach,” he said.
Existing investors State of Mind Ventures, NFX, and Viola Ventures were also involved in the fresh investment.
Koschier and Red Ledge North America managing director Mike Swift will join the Mov.AI board of directors following the deal.
