The automated storage and retrieval systems industry in Benelux focuses on enhancing warehouse efficiency and operational effectiveness. Companies range from innovative startups developing cutting-edge robotics to established firms offering comprehensive automation solutions, catering to logistics, manufacturing, and retail sectors. As the demand for speed and efficiency grows, this industry is evolving, integrating AI and machine learning to create smarter storage systems. Intriguingly, the sector is witnessing a surge in investment as businesses seek to automate inventory management and streamline supply chains, indicating a robust future for automation in warehousing.


Among the top 16 investors in automated storage and retrieval systems, you'll find a mix of corporate, venture capital, and private equity firms, primarily headquartered in the Netherlands, Belgium, and Luxembourg. These investors, ranging from young entrants like Exor N.V. in Amsterdam to established players like EIB in Luxembourg, operate in sizes from small teams to large organizations. Collectively, they executed a total of 99 deals in 2024, reflecting their strategic interest in a growing industry where operational efficiency is crucial.


Top 16 Automated Storage and Retrieval Systems Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In recent years, EIB has shown a particular interest in the automated storage and retrieval systems industry. For instance, it participated in a Series A funding round for Nomagic, a Polish developer of pick-and-place warehouse robots, which raised $22 million to enhance its automation technology for warehouses. Additionally, EIB led a €21 million Series B financing round for Magazino, a company focused on robotic solutions for logistics, further emphasizing its commitment to advancing automation in warehousing. These transactions highlight EIB's role as a significant investor in the automated storage and retrieval systems sector, alongside its broader investment strategy.


2. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has been involved in significant transactions within the industrial technology sector, including the acquisition of Dematic in 2006, a leader in automated storage and retrieval systems. They also acquired Leadec, which provides services to the manufacturing sector, and Dunkermotoren GmbH, a manufacturer of drive systems that can be integral to automation solutions. Most recently, Triton announced the acquisition of MacGregor, a cargo handling specialist, which further emphasizes their commitment to investing in companies that enhance operational efficiency and automation in logistics.


3. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. In recent years, Exor has been active in the automated storage and retrieval systems context, notably participating in the Series B funding rounds for Verity, a company specializing in autonomous indoor drones that provide data-driven intelligence and inventory management solutions. This investment highlights Exor's commitment to innovative technologies that improve operational efficiency. Additionally, Exor's investment in TVS Supply Chain Solutions indicates its interest in strengthening technology capabilities within the supply chain sector, which is closely related to automated storage and retrieval systems.


4. Alpha Intelligence Capital


Alpha Intelligence Capital is a venture capital firm based in Luxembourg, founded in 2018. The firm specializes in investing in AI-first companies, providing funding and strategic guidance to startups in the artificial intelligence and machine learning sectors. With a focus on deep technology investments, Alpha Intelligence Capital has positioned itself as a key player in the AI landscape. Notably, they have participated in significant funding rounds for companies like Brightpick, which raised $19 million in Series B funding for its logistics automation solutions, and Osaro, which raised $37 million in Series B funding for its AI-driven robotics solutions. These investments highlight their involvement in the automated storage and retrieval systems industry, showcasing their commitment to supporting innovations that enhance efficiency and automation in logistics.


5. Pmv

  • Website: pmv.eu
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 11
  • LinkedIn: pmv-eu

Participatiemaatschappij Vlaanderen (PMV) is a public investment company based in Brussels, Belgium, founded in 2001. It provides a range of financing solutions, including loans and co-financing, to startups, scale-ups, and established businesses across various sectors such as real estate, clean tech, and life sciences. PMV also offers consulting services to help businesses navigate investment challenges and achieve sustainable growth. Notably, PMV has invested in companies like Dockflow, which focuses on transparency and reliability in logistics, and Vaultspeed, which aims to enhance automation and AI in cloud data management. These investments reflect PMV's engagement in sectors that intersect with automated storage and retrieval systems, highlighting its role in supporting technological advancements in logistics and automation.


6. ICT Group

  • Website: ict.eu
  • Type: Corporate
  • Headquarters: Barendrecht, South Holland, Netherlands
  • Founded year: 1978
  • Headcount: 1001-5000
  • LinkedIn: ict_group

ICT Group, founded in 1978 and based in Barendrecht, South Holland, Netherlands, is a corporate investor specializing in technology solutions that enhance industrial automation and digital transformation. With a workforce of 1001-5000 employees, ICT Group has made several strategic acquisitions to bolster its position in various markets. Notably, they acquired Modality, a leading IT systems provider for intermodal container logistics, which strengthens their capabilities in logistics—a sector that heavily relies on automated storage and retrieval systems. Additionally, their acquisition of YellowStar Solutions, which offers web-based supply chain solutions, further aligns with the operational efficiencies sought in ASRS. These transactions reflect ICT Group's commitment to expanding its influence in sectors that intersect with automated storage and retrieval systems, making them a relevant player in this investment category.


7. TKH Group

  • Website: tkhgroup.com
  • Type: Corporate
  • Headquarters: Haaksbergen, Overijssel, Netherlands
  • Founded year: 1930
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: tkh-group-n.v.

TKH Group is a corporate investor based in Haaksbergen, Overijssel, Netherlands, founded in 1930. The company specializes in innovative solutions for automation, digitalization, and electrification, providing smart vision, manufacturing, and connectivity systems to enhance efficiency and sustainability across various sectors. In recent years, TKH Group has made several strategic acquisitions to bolster its technological capabilities. Notably, they acquired Park Assist, a vision technology company, and ParkEyes, which specializes in intelligent infrastructure and image-based parking solutions. These acquisitions reflect TKH's commitment to enhancing their automation solutions. Additionally, their acquisition of JCAI Inc, which focuses on guidance software for airports, further demonstrates their interest in automation technologies that could be relevant to automated storage and retrieval systems. Overall, TKH Group is actively investing in technologies that align with the automation sector, making them a noteworthy player in this space.


8. Ingka Investments

  • Website: ingka.com
  • Type: Corporate
  • Headquarters: Leiden, South Holland, Netherlands
  • Founded year: 2018
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: ingka-investments

Ingka Investments, a corporate investor based in Leiden, South Holland, Netherlands, is part of the Ingka Group, which operates IKEA stores and shopping centers globally. Founded in 2018, the firm focuses on providing affordable home furnishings while managing investments to support long-term growth and sustainability. Notably, Ingka Investments has made significant strides in the automated storage and retrieval systems context through its acquisition of Made4Net, a warehouse management system software provider, aimed at enhancing e-commerce and omnichannel services. Additionally, their involvement in funding rounds for GoBolt, a company that is enhancing its robotics and warehouse automation capabilities, showcases their commitment to investing in technologies that improve logistics and operational efficiency. These transactions highlight Ingka Investments' strategic focus on integrating automation into their supply chain operations.


9. NPM Capital

  • Website: npm-capital.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1948
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: npm-capital

NPM Capital is a private equity investment firm based in Amsterdam, Netherlands, founded in 1948. The firm focuses on supporting medium-sized and large companies, particularly family-owned enterprises in the Benelux region, by providing capital and strategic advisory services to foster growth and sustainability. NPM Capital operates across various sectors, including technology and education. Notably, NPM Capital acquired Vanderlande in 1988, a key player in the automated material handling systems industry, which includes automated storage and retrieval systems. This acquisition highlights NPM Capital's involvement in the sector. Additionally, the firm has made other investments, such as in Iddink Group and KUBO, but Vanderlande remains the most relevant transaction in the context of automated storage and retrieval systems. NPM Capital emphasizes long-term partnerships with its portfolio companies, aiming to support their growth trajectories.


10. Capricorn Partners


Capricorn Partners is a venture capital firm based in Leuven, Flanders, Belgium, founded in 1993. The firm specializes in venture capital, growth capital, and quoted equity funds, focusing on innovative companies across various sectors, including digital technologies, health, and clean technologies. They are committed to responsible investing, aiming to create both financial returns and strategic value for their clients. Notably, Capricorn Partners has invested in companies like fruitcore robotics, which provides intelligent robotics and automation solutions, and Sensolus, an industrial IoT firm. These investments highlight their interest in technologies that enhance automation and operational efficiency, which are crucial for the automated storage and retrieval systems industry. Their portfolio also includes Zozio, a predictive logistics solutions company, further emphasizing their engagement with technologies that support logistics and automation.


11. KPN Ventures

  • Website: kpnventures.com
  • Type: Venture Capital
  • Headquarters: Rotterdam, South Holland, Netherlands
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: kpn-ventures

KPN Ventures is a venture capital firm based in Rotterdam, South Holland, Netherlands, founded in 2015. The firm focuses on investing in innovative technology companies across various sectors, including Cloud Computing, Cyber Security, and Digital Healthcare. KPN Ventures provides capital, expertise, and networking opportunities to help early-stage companies grow and succeed in their respective markets. Notably, KPN Ventures has participated in transactions such as BOX ID Systems, a logistics software provider that raised €3.5M in a pre-Series A round, which aims to enhance its SaaS platform used by industry leaders in logistics. This investment aligns with the automated storage and retrieval systems sector, showcasing KPN Ventures' interest in logistics technology. Additionally, they have been involved in funding rounds for companies like Lendis, which offers SaaS solutions for managing equipment in hybrid work environments, further indicating their engagement in technology that supports operational efficiencies.


12. Innovation Industries


Innovation Industries is a venture capital firm based in Amsterdam, Netherlands, founded in 2017. The firm specializes in deep tech investments, focusing on catalyzing growth in technology companies across various sectors, including industrial tech, med tech, and food & agri tech. In 2019, they led a significant investment in Smart Robotics, a Dutch startup that develops palletizing and item picking applications, which are crucial components of automated storage and retrieval systems. This investment highlights their commitment to supporting innovations that can transform industries. Additionally, they have participated in funding rounds for other tech startups, such as Undagrid and Carbyon, further demonstrating their active role in the technology investment landscape.


13. Finindus

  • Website: finindus.be
  • Type: Venture Capital
  • Headquarters: Zelzate, Flanders, Belgium
  • Founded year: 1926
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: finindus

Finindus is a venture capital firm based in Zelzate, Flanders, Belgium, founded in 1926. The firm specializes in providing early-stage and growth financing to innovative technology companies, particularly in the fields of materials, sustainable manufacturing, and Industry 4.0. They emphasize proactive and pragmatic assistance to maximize long-term value creation for their portfolio companies. In 2024, Finindus has made six investments, including notable transactions such as OTIV, an AI company focused on autonomous train operations, and Viking Analytics, a predictive maintenance startup. While these companies do not directly relate to automated storage and retrieval systems, their focus on automation and advanced technologies aligns with the broader trends in the industry.


14. Vinci Venture Capital

  • Website: vincivc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: vinci-venture-capital

Vinci Venture Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2018. The firm specializes in investing in early-stage technology companies across Europe, with a focus on sectors such as logistics, energy, mobility, and industry 4.0. Vinci VC not only provides capital but also offers strategic support and resources to help startups achieve growth and commercial success. Notable transactions include investments in Octovan, which raised over $1.6 million in funding through various rounds, indicating a strong interest in logistics technology. Additionally, their involvement with Thread In Motion, which has received multiple rounds of funding, showcases their commitment to supporting innovative companies that may intersect with automated storage and retrieval systems.


15. Zetes

  • Website: zetes.com
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1984
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: zetes

Zetes Industries S.A., founded in 1984 and based in Brussels, Belgium, is a corporate investor specializing in technology solutions for supply chain optimization and citizen identification. The company provides a diverse range of products and services, including smart factory solutions, mobile computing, and collaborative technologies, catering to various sectors such as manufacturing, retail, and healthcare. In 2024, Zetes made a significant investment by acquiring a 50% stake in Robotize, a Danish robotics company, to enhance logistics efficiency through the use of Autonomous Mobile Robots (AMRs). This strategic move reflects Zetes' commitment to advancing automation in supply chain processes. Additionally, Zetes has previously acquired PEAK Technologies Europe and the business activities of PHI DATA BV, further expanding its operational capabilities and market presence in Europe. These transactions underscore Zetes' focus on improving efficiency and compliance in supply chain operations, making them a relevant player in the automated storage and retrieval systems industry.


16. Saffelberg Investments


Saffelberg Investments NV is a private equity and venture capital firm based in Gooik, Flanders, Belgium, founded in 2007. The firm specializes in long-term investments in fast-growing ventures, particularly in technology and life sciences. Saffelberg provides not only capital but also management expertise to help businesses achieve their growth potential. They have a diverse portfolio of investments, including notable transactions in the technology sector. For instance, they invested in Pozyx, a Ghent-based (I)IoT startup that focuses on smart manufacturing and warehousing, securing a 2.5 million EUR investment to support its international growth. This investment highlights their commitment to sectors that intersect with automated storage and retrieval systems. Additionally, they participated in funding rounds for other technology-driven companies, such as Proceedix and Tangent Works, further demonstrating their focus on innovative solutions in the tech landscape.



Automated Storage and Retrieval Systems Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
Triton PartnersLuxembourg201-50019976
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
Alpha Intelligence CapitalLuxembourg11-5020186
PmvBrussels, Brussels, Belgium51-200200111
ICT GroupBarendrecht, South Holland, Netherlands1001-500019780
TKH GroupHaaksbergen, Overijssel, Netherlands5001-1000019301
Ingka InvestmentsLeiden, South Holland, Netherlands51-20020184
NPM CapitalAmsterdam, North Holland, Netherlands11-5019481
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
KPN VenturesRotterdam, South Holland, Netherlands1-1020153
Innovation IndustriesAmsterdam, North Holland, Netherlands11-50201710
FinindusZelzate, Flanders, Belgium1-1019266
Vinci Venture CapitalAmsterdam, North Holland, Netherlands1-1020181
ZetesBrussels, Brussels, Belgium1001-500019841
Saffelberg InvestmentsGooik, Flanders, Belgium1-1020071


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