Market Overview

OnRobot Announces Growth Equity Investment from Summit Partners


Leading provider of collaborative robot applications poised for
global expansion

, a Denmark-based provider of end-of-arm tooling (EOAT) used in
collaborative robot systems, today announced an investment led by global
growth equity firm Summit
, with participation from existing investors including Vaekstfonden
(The Danish Growth Fund). The funding will help support OnRobot's
continued international growth and expansion of its product portfolio.

Headquartered in Odense, Denmark, OnRobot is a leading provider of
hardware and software that help customers take full advantage of the
benefits of collaborative robot applications: ease of use,
cost-effectiveness and safe use alongside human workers. OnRobot
integrates grippers, sensors and software to facilitate the deployment
of robots in a broad set of industries and end-use collaborative
applications, including packaging, quality testing, material handling,
machine tending and assembly. Led by robotics pioneer Enrico Krog
Iversen, OnRobot seeks to create a one-stop-shop for advanced
collaborative applications with true plug & play functionality. Prior to
OnRobot, Krog Iversen served as CEO of Universal Robots, which he grew
into the global market leader for collaborative robot arms. Universal
Robots was acquired by Teradyne in 2015.

"Innovation in collaborative applications is the next frontier in
expanding the scope of collaborative robot systems," said Krog Iversen,
CEO of OnRobot. "We are thrilled to partner with Summit and we are
confident that the firm's global network and growth focus will prove to
be valuable resources as we work to expand our product offering and
geographic footprint."

"OnRobot is at the forefront of a new generation of factory automation
technologies within the Industry 4.0 paradigm," said Johannes
, a Principal with Summit Partners. "We are impressed with
OnRobot's ability to capitalize on the fast-growing and dynamic market
for collaborative robot applications, and we believe the company is
well-positioned for accelerated growth."

"Over the last decade, Enrico helped establish Denmark as the Silicon
Valley of robotic innovation," said Han
, a Managing Director with Summit Partners who will join the
OnRobot Board of Directors. "We have great admiration for his
entrepreneurial vision and drive, and we are excited to partner with
Enrico to build OnRobot into a global leader."

"We invested in OnRobot in 2016 and very early on saw the potential of
building an international frontrunner in collaborative applications
headquartered in Denmark. We are proud to continue our support and
partnership with Enrico and the OnRobot team in the company's global
expansion, and we are very pleased to welcome the global resources of
Summit," added Christian Motzfeldt, CEO at Vaekstfonden. "We look
forward to working together to support OnRobot's next stage of growth."

About OnRobot A/S

OnRobot, based in Odense, Denmark and founded in 2015 offers
technologies — both hardware and software — used in collaborative
applications, mainly for collaborative robots (cobots). OnRobot
integrates grippers, sensors and other cobot equipment to facilitate the
use of the technology in applications such as packaging, quality
testing, material handling, machine tending, assembly and welding, and
is planning to acquire and manufacture additional technologies with
worldwide support. In addition to its headquarters in Denmark, OnRobot
has consolidated sales offices in Germany, China, the U.S., Malaysia,
Spain and Hungary. For more information, visit

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm
that is currently managing more than $14 billion in capital dedicated to
growth equity, fixed income and public equity opportunities. Summit
invests across growth sectors of the economy and has invested in more
than 475 companies in technology, healthcare and other growth
industries. These companies have completed more than 140 public equity
offerings, and more than 190 have been acquired through strategic
mergers and sales. Notable technology
and industrial
companies financed by Summit Partners include Avast PLC,
Darktrace, Elatec, Flow Traders NV, Fineline Technologies, Harvey
Performance Company, Infor, Normec, SmartSheet, Trintec and
Welltec. Summit maintains offices in North America and Europe, and
invests in companies around the world. For more information, visit or
follow on Twitter at @SummitPartners.

About Vaekstfonden – The Danish Growth Fund

Vaekstfonden, The Danish Growth Fund is the Danish state investment
fund. The Fund contributes to the creation of more new growth companies
by providing capital and expertise. Since 1992, The Danish Growth Fund
has, together with private investors and financial institutions,
co-financed growth in more than 7,300 Danish companies with a total
commitment of more than DKK 22.5 billion. In 2017, the companies had a
combined turnover of more than DKK 98 billion and employed more than
63,500 people. The Danish Growth Fund's investments currently contribute
to creating approximately 10,700 new jobs per year. For more
information, visit

In the United States of America, Summit Partners operates as an
SEC-registered investment advisor. In the United Kingdom, this document
is issued by Summit Partners LLP, a firm authorized and regulated by the
Financial Conduct Authority. Summit Partners LLP is a limited liability
partnership registered in England and Wales with registered number
OC388179 and its registered office is at 11–12 St. James's Square,
London, SW1Y 4LB, UK. This document is intended solely to provide
information regarding Summit Partners' potential financing capabilities
for prospective portfolio companies.

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