IMSystems is to receive an investment of 600,000 euros from InnovationQuarter and Lucros Investment. This will help the company take important steps in product development and bring the technology to market. The investment was announced on Thursday, 21 June by Delft deputy mayor Bas Vollebregt at YES!Delft’s ‘Meet the VCs’ event.
The investment enables the RoboValley-based start-up to optimise the Archimedes Drive – a revolutionary transmission for high-precision robots - and carry out endurance tests in collaboration with large robotics manufacturers. The technology works, but it now needs to be demonstrated that the Archimedes Drive continues working long-term and meets the high requirements of industrial standards.
Jack Schorsch, inventor and CEO of IMSystems, is pleased with the new investment. “With InnovationQuarter and Lucros on board, we have two professional hands-on investors who will support us in important phases, including further development, product optimisation and bringing this revolutionary technology to market”, he says.
“IMSystems’ Archimedes Drive will potentially enable new applications both within and beyond the upcoming robotics market,” says Edwin Berkhout, Director of Lucros Investment. The rapid development that IMSystems has undergone in the last two years is ‘impressive’, he states.
Francis Quint, head of InnovationQuarter Capital, describes IMSystems as a ‘fantastic example’ of how young businesses can flourish in the regional innovation ecosystem. “We have been in contact with IMSystems for a long time and can see enormous potential in this ground-breaking technology.”
MSystems is a success story of the Delft ecosystem. Archimedes Drive was initially conceived at Delft University of Technology. The company then sought the support of start-up incubator YES!Delft before moving to RoboValley. The company has already received an investment of 300,000 euros from the UNIIQ proof-of-concept fund.
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