Stihl Digital, the corporate venture arm of Stihl Group, has acquired 23.8 percent of Danish robot firm TinyMobileRobots, buying out the company’s former venture-capital company Borean Innovation. The Danish company produces advanced line marking outdoor robots intended for use in sports fields and road construction.
“We have been in close contact with TinyMobileRobots for more than two years, and steadily, we have become more and more impressed with their growth rates and performance,” says Benjamin Junghans, director of Stihl Digital. “So as the chance to acquire nearly a quarter of the company arose, we were quick to strike a deal. We feel convinced that our future collective efforts will lead to an even greater share of TinyMobileRobots’ fast-growing and innovation-driven market.”
TinyMobileRobots is, states the company, the world’s leading supplier of line-marking robots [and in] “the U.S. alone, the company now covers more than half the market. As the U.S. is also one of Stihl’s expansion markets, both companies therefore see great potential and synergy in working together. Especially because TinyMobileRobots’ line marking robots meet a high customer demand for more sustainable products with its robots being powered by batteries instead of diesel and using significantly lower amounts of line paint compared to competing products.”
“We have been looking for a strong partner who can support our continued growth. Having Stihl as a partner is nothing short of a dream come true,” says Jens Peder Kristensen, founder and CEO of TinyMobileRobots. “Right from the outset, we will also benefit greatly from Stihl’s worldwide network of dealers. While maintaining our status as an independent company, we can draw on Stihl’s huge market experience to accelerate our growth further.”
Private investor Anders Fauerskov (former co-owner of TC Group) will continue to own part of TinyMobileRobots and remains a significant capital partner within the new circle of owners, the company states.