Kronomav closes a financing round to promote its internationalization

Clave Mayor and Inveready Technology Investment Group participate in the financing round of the Valencian company specialized in robotics applied to audiovisuals.

Kronomav Systems has closed a financing round through contributions from Comval Emprende F.C.R., a fund managed by Clave Mayor and Inveready, a Venture Debt specialized in leading technology companies in the Spanish market and which has just become a shareholder. The company has also obtained financing from the Ministry of Industry, Energy and Tourism (within the Strategic Action program for Digital Economy and Society) and the National Innovation Entity (ENISA), thanks to the agreement that the managers Clave Mayor and Inveready maintain in this entity within the framework of the Spain Co-Investment Start-up Fund.

La compañía de robótica valenciana, que concentra un 85% de las ventas en mercados internacionales, principalmente en Asia, ha conseguido esta nueva ronda para afianzar su plan de internacionalización en los mercados emergentes.

Kronomav es una empresa de robótica aplicada a la visión artificial. Sus productos y servicios se orientan principalmente al mercado audiovisual y al mercado de seguridad, defensa y medioambiente. Las soluciones aplicadas a cada mercado provienen de habilidades adquiridas por sus ejecutivos en los ámbitos de visión artificial (visión artificial y procesado digital de la imagen) y robótica (comunicación entre máquinas e incorporación de sensores) durante más de 20 años.

During 2013 the company has promoted a new line of robotics aimed at the Pro-AV markets, which incorporates audiovisual technologies (visible or thermal spectrum systems) and sensor technologies (radars, telemetry systems, antennas, etc.), specially designed for the defense and security markets.

The company maintains a high level of specialization in the broadcast market, through the retransmission of live 3D systems and tracking solutions for television and virtual scenarios. Its specialization in live 3D solutions has allowed it to participate in events with great global impact, such as the 2012 London Olympics, Rolland Garros or broadcasts for Mediapro of Professional Football League matches, such as the last FC Barcelona – Real Madrid CF match broadcast on October 26.

Towards a new model

Kronomav proposes a boost to its business model with the aim of accelerating growth. The new model maintains direct sales and provision of services in Europe and introduces the creation of joint ventures with local partners in emerging markets. The resources obtained will be used to support the constant R&D efforts in the areas of audiovisual, defense and the environment, as well as supporting internationalization with the new scheme in markets where it is already being well received, such as the Asian markets, and in the upcoming expansion to Latin America.

To develop this commitment, the company's partners have agreed to hire an executive, Luis Catalá, with experience in strategy to help pilot this growth.

The company's shareholders are led by project executives and Venture capital funds, which hold the majority of the capital.