Inxpect announces 17M€ Series B

Italy-based Inxpect, a world leader in radar sensors for robotics and industrial safety applications, announces a 17M€ Series B round led by Fondo Italiano d’Investimento (FITEC). 360 Capital, as an existing investor, also participated in the round, along with 8a+ Investimenti. Inxpect is a perfect example of our investment thesis on deeptech and industry 4.0.

Inxpect designs and manufactures the world’s first and only radar sensors certified for industrial safety applications, revolutionizing the interaction between humans and machines. With more than twenty international patent families, the company is now investigating 3D radar imaging technologies to make collaborative robotics a pervasive technology applicable to a wide range of industrial applications.

Inxpect currently employs more than 40 people in Italy and Israel. Sales doubled in 2020 and the company is building a solid pipeline for its products, particularly in the automotive, logistics and packaging sectors.

After this round, Inxpect will focus on accelerating its R&D investments and on expanding its commercial presence within the collaborative robotics market, which represents a 40 billion euros opportunity.

Read the full press release here.

See article on Tech.eu