Enova Robotics, a Tunisian robotics startup has raised US$1.6 million investment from Tunisian investment firm Capsa Capital valuing the company close to US$5.4 million.
Founded in 2014 by Dr. Anis Sahbani, Enova Robotics is the only company in the Middle East & North Africa that designs and manufactures its own branded robots for use in education, healthcare, security, and marketing.
Its first product is an educational robot called MiniLab that is used for experimental application development and comes with a price tag of US$4,500 while normal industrial robots attract prices anywhere between US$50,000 to US$100,000.
In what is said to be the largest-funding round for a Tunisian startup, Enova Robotics is planning to use the investment to open a branch in France that will be used for R&D and to develop their after-sales services for European market and use part of the investment to extend their activities into rest of MENA, which is perceived as a potential big market for their products.
The startup which has 20 engineers working for it in Tunisia and France has to date sold more than 50 robots across the world and targeting to sell US$30 million worth of robots.