Inspection robot manufacturer Invert Robotics was founded out of University of Canterbury in 2011 and has now secured corporate Yamaha Motor as an investor in its latest round.

Invert Robotics, a New Zealand-based inspection robot manufacturer spun out of University of Canterbury, closed a $8.8m round on Thursday led by food and agriculture-focused venture firm Finistere Ventures.
The round also featured backed by Yamaha Motor Ventures & Laboratory Silicon Valley, a corporate venturing arm of motor vehicle manufacturer Yamaha Motor, state-owned New Zealand Venture Investment Fund (NZVIF), Inception Asset Management and Allan Moss, as well as a range of unnamed, existing backers.
Founded in 2011, Invert Robotics has built a robot that is able to scale non-magnetic industrial surfaces including stainless steel, aluminum and glass.
The robot deploys computer vision together with surface-wave detection and ultrasound to evaluate the surface’s density and structural integrity, helping the client identify defects without endangering human workers.
Invert Robotics started out by focusing on dairy inspection applications, but is now also targeting other food and drink production processes as well as the aviation, pharmaceutical, chemicals and oil and gas industries.
The spinout will use the capital to grow its workforce and open a branch in the US as it looks to enhance its offering with upgrades and additional products including an artificial intelligence-powered platform for predictive maintenance.
Craig Boshier, partner and general manager for Yamaha Motor Ventures in Australia and New Zealand, will join Invert’s board together with Arama Kukutai, co-founder and partner at Finistere, and Dean Tilyard, Finistere’s venture partner for the Oceania region.
Invert Robotics previously attracted more than $4.4m in a January 2018 round from private investors including Allan Moss, according to the New Zealand Herald, adding to $501,000 raised  two years previously through an equity crowdfunding campaign.
Startup incubator Powerhouse supplied Invert Robotics with an undisclosed amount in 2012 and reportedly remained the company’s largest shareholder with a 23% stake as of January 2018.
Inception Asset Management was identified as an existing investor for the latest round, though details of its prior involvement could not be ascertained.