Following investments in product maturity, a new and focused market strategy, and building a strong commercial organization, Blue Ocean Robotics enters the next planned phase of the strategy. To support implementing this strategy as effectively as possible, existing shareholders have now raised another EUR 10m.
During the last 12 months, Blue Ocean Robotics has made significant investments. Both in increasing the technical maturity of the products and to establish a comparatively stronger value proposition based on the combined product, and service offering to customers. Furthermore, investments have been made to execute a focused strategy, predominantly centered on direct sales to the US and building up a nationwide US commercial team. And with this new injection of capital, Blue Ocean Robotics can further speed up the strategy execution process.
“The path to profitability has now become shorter. The goal we have set is to be profitable within 12-18 months, and as a result of that objective, we will continue our commercial investment, and also create a leaner and more focused Blue Ocean Robotics,” says Janus Pagh, CEO at Blue Ocean Robotics.
One of the biggest investors, Nordic Eye Venture Capital, is a strong supporter of the continued execution of the strategy, is backing and looks with excitement on the next phase of the journey Blue Ocean Robotics has set out on.
“Blue Ocean Robotics is on a very exciting journey. We see huge potential from the products and solutions and expect this to show when the new strategy is fully implemented”, says Christian Tarp, CIO at Nordic Eye and continues: “The commercial pipeline for the products UVD Robots and GoBe Robots is building up as expected. And the UV-C market continues to show attractive double digit annual growth. With the technical stability and performance of the robots, and the clear and focused go-to-market plan, Blue Ocean Robotics enters the next phase of the simpler, stronger, and closer strategy, which is Profitable Growth”.