Robolution Capital et al. inject €10m into Balyo

Details regarding the breakdown of the round have yet to be made public.

The funding round be extended to €14m, according to law firm Chammas & Marcheteau, which advised Robolution Capital on the deal.

Robolution Capital was launched in January 2012 with a €60m target. The fund held its first close on €80m in March 2014. Around half of the funding was supplied by public initiatives EIF and BPI, with the remainder of the commitments provided by corporate investors.

The vehicle's portfolio currently includes electrical components and equipment companies Enerbee and EZ-Wheel.

Balyo intends to use the investment to expand its geographical coverage across the European and North American markets. The company struck a partnership with Linde Material Handling in February 2015. The agreement will see Balyo apply its robotic solutions to Linde's range of automated handling carts.

Company
Founded by Raul Bravo and Thomas Duval in 2005, Balyo is a robotic material-handling solutions provider that operates both in Europe and the US via subsidiary Balyo Inc. It employs 60 staff and reported a €3m turnover in 2014.

People
BPI France was represented by investment manager Xavier Deleplace, while managing director Christophe Lautray led the deal for Linde Material Handling. Fabien Bardinet is managing director at Balyo.

Advisers
Equity (Robolution Capital) – Chammas & Marcheteau, Denis Marcheteau, Stéphanie Bréjaud, Roxane Bouillon (Legal).
Equity (Linde Material Handling) – Curtis, Grégoire Andrieux, Diana Hund (Legal).
Company – Gide, Olivier Edwards, Aude Martin, Pauline Schaeffer (Legal).

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