La Rochelle-based (France) Shark Robotics, a technology company that specialises in firefighting, defence and nuclear robotics, announced on Monday, January 16, that it has raised €10M in a fresh round of funding from Move Capital Fund I.
Move Capital is a pan-European growth equity fund with a focus on strategic data value chain industries and a mission to develop European tech leaders. The firm backs sectors such as Industry 4.0, IoT, AI, Cyber Security, Data Analytics, and Machine Learning.
Sophie Sursock and Hervé Malaussena, co-founders of Move Capital Fund I, mention, “At a time when terrestrial robotics is providing new solutions to human and environmental safety issues, we are delighted to stand alongside Cyril and his teams to support Shark Robotics in this new stage of its development and consolidate its leadership.”
Shark Robotics: Everything you need to know
Founded in 2016 by Cyril Kabbara, Shark Robotics has competence across the full robotics value chain, including hardware, software & artificial intelligence, and batteries, and designs and produces ground robots for hostile environments. The company increases operational efficiency, preserves human lives and reduces environmental impact.
Shark Robotics offers firefighter robots, mine-clearing robots, mule robots, robotic police harrows, etc. “We intervene effectively as close as possible to danger to protect humans, the environment and businesses,” says the company.
Over 100 robots have already been delivered by the business to 15 different nations. Public organisations involved in civil security and defence, such as the French Ministry of the Armed Forces, the Paris Fire Brigade, SDIS 33, and foreign Ministries of the Interior, as well as the industrial sector, utilise robots from Shark Robotics.
The Colossus firefighting robot, developed by Shark Robotics, famously battled the Notre Dame de Paris cathedral fire in 2019 for more than 10 hours at 800 degrees.
Shark Robotics says it will use the funds to solidify its position as the industry leader by boosting its R&D expenditures, speeding up the internationalisation process that it has already begun through its subsidiary Shark Asia, and upgrading its manufacturing facilities.
Cyril Kabbara, founder and CEO of Shark Robotics, says, “This round of financing will enable Shark Robotics to accelerate its development at a time when robotics is taking on a growing role in our societies. As tools for the common good, our robots provide added operational and protective value for dangerous tasks. Moreover, this fundraising will contribute to the reindustrialisation and creation of high value-added jobs.”