Aberdeen’s Leap Automation has secured a new £7.9m investment, led by £3.5m from the Scottish National Investment Bank (SNIB) and also including Mercia Ventures and WA Capital.
Leap delivers robotic solutions for the manufacturing sector. Its artificial intelligence-powered technology enables it to deliver robotic automation for companies of all sizes.
The company has chosen the food and drinks sector as the initial market to launch its technology, as one of Scotland and the wider UK’s priority growth industries. Labour shortages are a prominent issue here and economic conditions have left firms seeking new and innovative production solutions.
Ben Stuart, chief executive of Leap AI, said: “From the outset we have strived to build simple, flexible and cost-effective robotic systems that solve our customers’ most pressing challenges.
“The need is greater now than ever before, with labour shortages costing the UK food sector over £1.4bn last year.
“This funding will enable us to increase headcount, scale our operations and solve more problems for more customers through further product development.”
Jane Reoch, executive director at SNIB, said: “Leap Automation is aligned to our missions; creating skilled jobs in the northeast and helping to create and scale a more competitive and diversified economy through innovation.”
Jonny Nixon, investment director at Mercia Ventures, added: “We’re really excited about the potential of Leap AI at a time when inflation and labour shortages are placing ever greater pressure on business – we think this technology can play a crucial role in boosting productivity across a range of end markets.”
The new investors join existing funders Scottish Enterprise and Alba Equity.
