© OnRobot Electronics Production | June 11, 2018
A new robotic tooling company is born when three become one
Former Universal Robots CEO, Enrico Krog Iversen, along side the Danish Growth Fund, is addressing the next challenge in automation with the merger of three end-of-arm tooling companies to facilitate the ongoing growth of collaborative robotics; an industry expected to reach USD 8.5 billion by 2025.
The new company combines US-based Perception Robotics, Hungary-based OptoForce, and Denmark-based On Robot – together becoming OnRobot, which aims to drive innovation and ease-of-use for robotic end-of-arm tooling, a press release reads. OnRobot’s headquarters will be located in Denmark under the management of Enrico Krog Iversen, and the three entities will continue their individual operations and development as well. In addition, OnRobot’s global network of distributors will have access to local sales support, technical assistance and product training from the company’s regional offices in Germany, China, U.S., Malaysia, and Hungary. More offices to come in 2018. “The aim is to build a world-leading organization in development and production of end-of-arm tooling. Through further acquisitions and collaborations, we expect to reach a revenue exceeding one hundred million dollars in a few years,” says Iversen and continues: “Safe, cost-effective, and versatile cobots are becoming increasingly common because they offer sophisticated and intuitive programming that enables them to be easily deployed and redeployed. Easy-to-integrate end-of-arm tooling, such as grippers and sensors, become vital elements in adapting these powerful automation tools for a wide range of applications.” In 2015 Enrico Krog Iversen and the Danish Growth Fund sold the Danish cobot pioneer company Universal Robots to US-based Teradyne for USD 285 million. With their new venture, the two investors will further strengthen Denmark’s position in the robotics field. “In recent years Denmark has successfully established itself as a global hub for robotic technologies. Universal Robots was a pioneer, and since then many more strong and innovative companies have been formed with roots in Odense, Denmark. The new OnRobot has the potential to become not only a world-leading company, but also a catalyst for further development of the Danish robotics cluster,” says Christian Motzfeldt, CEO of the Danish Growth Fund. Collaborative robots currently represent 3% of global robot sales, according to the International Federation of Robotics, but the share is expected to rise to 34% of a USD 25 billion market by 2025, the press release continues. “This growth will most definitely depend on cobots being used in more applications,” Iversen added. “Their small footprint and ability to work safely alongside humans make them ideal for small and medium-sized manufacturers who need to compete globally. Cobots are also increasingly integrated into very large manufacturers such as automotive plants, where they are taking over processes that can’t be automated using traditional robotics. As the types of cobot applications expand, so does the need for new tooling that can be quickly and easily integrated into the cobot’s user interface. The new OnRobot is championing a current mega trend in the field of automation. Combining the unique capabilities of these end-of-arm technologies under one umbrella company that is led by some of the smartest minds in the robotics industry will make them even easier to implement and program,” says Iversen. The newly formed company is currently looking to add employees in R&D.