ASKO invests in robot company | Finansavisen
The wholesale giant ASKO has collaborated with the Ålesund-based logistics company Solwr since 2018 to develop the warehouse robots Grab and Sort.
In a directed issue, ASKO has now become an owner in the subsidiary Solwr Robotics with 10 million in fresh capital. The issue values the company at DKK 110 million.
— With fresh capital and ASKO’s expertise, we are ready to establish ourselves internationally, says Torbjørn Krogen, CEO of Solwr.
New issue
– We are ready for a third proper speed in 2023. The first step is to pilot the robots in England in the quarter of 2023. We also aim to start up pilots in Denmark and Sweden in the fourth quarter of the same year, at the latest first quarter of 2024, says Krogen.
To help the internationalization further, Solwr is planning a new issue in the spring of 2023. This time it will be raised between 30 and 40 million. The price is currently unknown, but will be somewhat higher than it was at the previous issue, Finansavisen learns.
– We are running a new issue primarily to build a value chain, ensure success with customers and for more traction in the international market by bringing in investors with expertise and networks, says Krogen.
Grocery store
In 2022, Solwr Robotics AS entered into a strategic partnership with the software company Driw. Together they have established the Solwr Group, with the aim of developing and supplying logistics technology for trade. Both companies develop and deliver solutions for trade logistics, respectively through the ERP system Trace and the robots Grab and Sort.
– Our biggest competitor is manual picking. We deliver products that can easily automate large parts of the closing without having to rebuild existing stock, says Krogen.
Solwr’s customer base is the grocery industry, more specifically distribution warehouses – an industry partly defined by complex product ranges.
– Within other industries, it is simpler to pick, as there are not as many different products in different sizes around, Krogen adds.
However, he does not rule out that the company will look into new markets in the future.
Ålesund-based logistics company.
Specializing in ERP software, integration, automation and robotics.
Solwr Group is the result of a merger between the software company Driw and the robot company Currence Robotics. The new company was established in 2022.