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Photoneo Brightpick Group has entered into an agreement for Zebra Technologies Corp. to acquire its Photoneo s.r.o. division, which specializes in providing advanced vision sensors and AI technology for robotics applications.
According to Jan Zizka, co-founder and CEO of Photoneo Brightpick Group, this partnership with Zebra is a strategic alignment that will enable Photoneo to significantly enhance its development capabilities. “Integrating Photoneo’s cutting-edge 3D vision technology with Zebra’s extensive market reach and diverse portfolio of robotics and machine vision solutions sets us on a promising path for growth,” Zizka stated.
The Bratislava, Slovakia-based company boasts over 8,000 technology deployments in regions including the U.S., Europe, and Asia. Its Brightpick unit is renowned for deploying AI-powered robots designed to streamline warehouse operations, covering activities from picking and consolidating orders to dispatching and inventory replenishment. Brightpick was established as a separate entity from Photoneo Brightpick Group in 2021.
Brightpick Set for Global Growth
Post-acquisition, Photoneo Brightpick Group will be renamed Brightpick, continuing its independent operation with a focus on innovating and implementing AI robots for enhanced warehouse automation.
The company aims to reinvest the majority of the proceeds from this sale to expedite its expansion efforts within the U.S. and European markets. Brightpick recently secured $12 million in funding in October 2024, contributing to a total of $47 million raised so far.
Zizka emphasized the significance of this transaction, indicating it will provide essential capital for reinvestment into Brightpick and also deliver returns to shareholders. With an impressive growth rate of eight times in annual recurring revenue for 2024 and nearly full production capacity for 2025, the additional funding will support scaling manufacturing and increasing deployment capacity to satisfy rising demand for AI-driven robotics.
Brightpick’s Autopicker robot can be deployed within weeks, allowing businesses to reduce labor costs associated with fulfillment. This mobile manipulator is engineered to autonomously select and consolidate orders within warehouse aisles, mimicking the actions of a human operator with a cart.
Equipped with sophisticated AI, the Autopicker can operate seamlessly in various warehouse settings, fulfilling orders across an extensive range of product categories. The company’s innovative approach has garnered recognition, with Brightpick winning the ‘Application of the Year’ award in the 2024 RBR50 Robotics Innovation Awards.
Collaboration to Enhance AI and Vision Solution
Zebra Technologies and Photoneo will merge their expertise in perceptive hardware and software for robotics solutions as part of this acquisition.
Photoneo highlights its patented parallel structured light technology, claiming it delivers fast, precise, and high-resolution data essential for various applications. The company notes that its sensors are compatible with many leading robotic systems.
Zebra Technologies, based in Lincolnshire, Illinois, brings more than five decades of experience in scanning, tracking, and mobile computing systems to the partnership. The company has built a robust ecosystem of about 10,000 partners operating in over 100 countries, boasting a client base that includes over 80% of Fortune 500 companies.
In a previous expansion, Zebra acquired Fetch Robotics, a provider of autonomous mobile robots, in 2021 for $290 million. At the recent MODEX 2024 event, Zebra unveiled new mobile robots, along with additional accessories and scanning technologies, further solidifying its presence in the automation market.
Joe White, chief product and solutions officer at Zebra, remarked on the integration of capabilities: “The unification of Photoneo’s 3D machine vision technologies with Zebra’s advanced sensors and AI-driven software will create a uniquely competitive offering for our clients worldwide. We are focused on empowering customers across automotive, logistics, and other key industries to fully leverage the benefits of machine vision within their operations.”
The financial details of this transaction were not disclosed, and both parties noted that the deal is pending standard closing conditions, with an anticipated closing in the first quarter of 2025.
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