Zurich, Switzerland– Embotech has raised CHF2.5M from a consortium of existing investors (including Zürcher Kantonalbank and angel investors) and new investors including the Conzzeta group. The funds will be used to accelerate growth in the automotive, aerospace and industrial solutions segments.
Within the course of 2018, Embotech has celebrated its 5th anniversary, doubled the team to 21 staff and achieved revenues of single digit CHF millions. Major current projects include 12 Proof of Concept (PoC) projects with OEMs and Tier1s in the automotive segment, aerospace projects with the European Space Agency that are expected to fly the first demonstration vehicles within 2019 and several industry projects in wind turbine , laser cutting and robotic arm motion optimization.
“We are delighted that existing investors have decided to continue to support Embotech and warmly welcome the backing of Conzzeta group and new investors in this oversubscribed round. We are confident that these funds will allow us to carry out our growth plans and make the company highly profitable in the near future”, says Juan Jerez, co-founder and Chairman of the Board of Directors at Embotech.
Empowering Autonomous Systems to Make Better Decisions
Embotech is a leading developer of cutting-edge decision-making solutions. Embotech’s embeddable software empowers autonomous systems to make decisions by solving complex optimization problems in milliseconds, bringing significant improvements in safety, productivity and energy efficiency. Their numerical core software tool FORCES PRO is based on physical models, using a deterministic mathematical approach with numerical optimization. Current applications include automotive, industrial and aerospace solutions.
Contact: Andreas Kyrtatos, CEO | firstname.lastname@example.org | +41 44 552 26 22 www.embotech.com