Blue Ocean Robotics reports having sold out at the end of the second investment stage on 29th August. Blue Ocean Robotics could announce, earlier in the summer, that the company had closed the first investment stage with “the World’s Best Investor”. This time the investor group has been expanded with a small group of prominent business people and partners close to the company.
ODENSE, DENMARK – AUGUST, 2016
“Sold out”, this was the message Blue Ocean Robotics’ Co-CEO, Claus Risager, could tell partners and employees after closing the second investment stage.
The company has completed a private placement among a small group of investors and partners as well as employees close to the company.
Amongst the main investors are Niels Thorborg and Jørn Tolstrup Rohde. Altogether, the group has invested DKK 50.72 million with the purpose of consolidating global growth, strengthen the development of the company’s robot-portfolio, and hatch multiple successful spin-out companies in the time to come.
In the beginning of August, Blue Ocean Robotics announced the completion of the first stage of investments with “the world’s best investor” Michael Voss from Fundamental Fondsmælgerselskab A/S. This was a result of the company announcing in the spring that it was planning to call its IPO on Nasdaq OMX First North in Stockholm.
With the opportunities that presented themselves, it turned out more appropriate to continue as a private company and keep a closer dialog with a small group of dedicated private investors. The company has, therefore in consultation with Fundamental Fondsmælgerselskab A/S, decided to put the IPO on hold indefinitely.
The end of the second stage of investments means that 28.3 % of the company is now owned by external investors. The remaining 66.7 % are still owned by the three founders, Co-CEOs and Partners, Claus Risager, Rune K. Larsen and John Erland Østergaard and the three founders expect to continue the company without significant changes in daily operations or in the organization as a whole.
”It is a great pleasure and satisfaction for us as founders of the company, to experience the great enthusiasm and commitment to our company and our business model. We are looking forward to start the collaboration with the board of directors and the many exciting initiatives that lie ahead. The capital injection also gives us the opportunity to actualize the plans that have so far been out of reach,” says the founders of Blue Ocean Robotics, Claus Risager, Rune K. Larsen and John Erland Østergaard, and adds; “With the established group of investors in place, we are ready to speed up several projects that are included in our RoBi-X program as well as our international expansion with the Joint Venture franchises in USA, Europe, and Asia. What is essential for us in the investment process is the human resources that have become part of the board, and the close dialogue we can have with our investors in relation to further development and commercialization of robot technology.”
Amongst the established group of investors, Blue Ocean Robotics can present and add a number of prominent private investors including Niels Thorborg and Jørn Tolstrup Rohde. Niels is CEO of the 3C Group and very active in the development of Odense as well as on several boards. Including as member of University of Southern Denmark’s board of directors. Jørn Tolstrup Rohde’s previous positions include Senior Vice President of the Carlsberg Group with responsibility for Europe and CEO for KiMS A/S.
A part of the investment will be used developing the company’s international domain in growth-profiled areas in USA, China, Southeast Asia and Europe. “I have had a positive dialogue with the owners of Blue Ocean Robotics through some time and the more insight I got in the company, the more convincing it became. In just a few years, the company has established Joint Venture partnerships in more than 10 countries and Blue Ocean Robotics has with its business model great potential for creating very interesting spin-out companies. So I see a significant international growth potential and I am looking forward to actively take part in the work of the board,” says Jørn Tolstrup Rohde.
By establishing close strategic partnerships with key players in a wide range of industries, Blue Ocean Robotics develop new robotic solutions through RoBi-X. When a solution has been designed, developed and commercialized to the point where they can operate on their own, the solution is spun out into a spin-out company with an independent management but still with a close connection to Blue Ocean Robotics. It is through this formula that the Blue Ocean Robotics group consists of 22 companies today and at least eight new are coming this year.
“Odense has in recent years worked itself up to a position as the world leader in robotics, and therefore it is an area I have been following with great interest. Blue Ocean Robotics is based on a strong competence and combined with a commercial perspective the company has developed a unique business model, that offers tremendous potential. I am therefore very pleased that I now have the opportunity to be included”, says Niels Thorborg.
The newly established board of directors consists besides the three founders, of Jørn Tolstrup Rohde, who will become the new Chairman, Jacob Bro Eriksen from Fundamental Fondmælgerselskab A/S, and Henrik I. Christensen, Chairman of President Obama’s control committee of robotics.
About Blue Ocean Robotics
Blue Ocean Robotics create and commercialize robots. The company uses robot technology to create innovative solutions for end-users and new business opportunities through partnerships.
Blue Ocean Robotics was established in 2013 by the current Co-CEOs and Partners, Claus Risager, Rune K. Larsen and John Erland Østergaard, and has since then only led the company in one direction – towards the world’s elite in robotics. This was made clear recently, when Blue Ocean Robotics was recognized to be one of the 20 most promising robotic solutions in the world, by American CIO Review. This is the development, Blue Ocean Robotics want to continue with the capital from the new investors.
Despite only being on the market for 3 years, Blue Ocean Robotics has over 110 employees worldwide, distributed in 11 countries and counts more than 29 sales partners worldwide including Denmark, Finland, Mexico, USA, Qatar, UAE and Singapore. The turnover is approx. DKK 60 million per year with an expectation of a significant increase in the years to come.