Milan, February 16th, 2021 – Fondo Italiano Tecnologia e Crescita – FITEC, a leading growth equity fund managed by Fondo Italiano d’Investimento, led a Series B investment round of more than 17 million euros in Inxpect. Existing investor 360 Capital and 8a+ Investimenti (advised by Banca Generali) also invested in the round.
Inxpect, founded in 2015 by CEO Luca Salgarelli, former researcher at Bell Labs and professor of Telecommunications Engineering, is a world leader in radar sensors for robotics and industrial safety applications.
Inxpect designs and manufactures the world’s first and only radar sensors certified for industrial safety applications, revolutionizing the interaction between humans and machines. With more than twenty international patent families, the company is now investigating 3D radar imaging technologies to make collaborative robotics a pervasive technology applicable to a wide range of industrial applications.
Inxpect currently employs more than 40 people in Italy and Israel. Sales doubled in 2020 and the company is building a solid pipeline for its products, particularly in the automotive, logistics and packaging sectors.
After this round, Inxpect will focus on accelerating its R&D investments and on expanding its commercial presence within the collaborative robotics market, which represents a 40 billion euros opportunity.
“Closing an equity financing round during a global crisis was not easy. We are thrilled to be able to take our vision to the next level with the support of an experienced tech growth fund like FITEC.”
said Luca Salgarelli, Founder & CEO, Inxpect.
“Inxpect developed a world class product line and has the potential to become one of the world leaders in industrial sensors for collaborative robotics. We are looking forward to working with Luca and his team to support the company vision”
said Claudio Catania, Senior Partner, FITEC.
As part of the transaction, Claudio Catania will join Inxpect’s Board of Directors. Inxpect is FITEC’s sixth high growth tech investment since 2017.
