Seed22 July 2024

True Position Robotics secures £1m from British Business Bank to scale operations.

The funding round was facilitated by Mercia Ventures and marks the first deal from the Midlands Engine Investment Fund II.

£1.0MSeed

True Position Robotics is a Nottingham based firm that develops automated assembly technology for the aerospace sector using off the shelf industrial robots. The company helps manufacturers reduce production costs and build aircraft more efficiently.

True Position Robotics has secured £1m in equity funding from the British Business Bank through the Midlands Engine Investment Fund II, with Mercia Ventures managing the transaction. The capital will be directed towards scaling operations and supporting ongoing research and development efforts at the Nottingham based enterprise. This transaction marks the inaugural equity deal completed under the Midlands Engine Investment Fund II initiative.

The company has developed proprietary software and hardware that adapts standard industrial robots for precision aircraft assembly. By automating drilling and inspection processes, the technology allows manufacturers to produce lighter, more fuel efficient planes in a fraction of traditional build times. Existing clients include BAE Systems.

From the founder

"Unlike vehicle assembly, where processes are repeatable, with aircraft the need for lightweight components and high precision means that no two operations are the same. For this reason automation has so far proved too difficult or too costly. Our robot guidance systems overcome these challenges. The investment from the Midlands Engine Investment Fund II will enable us to consolidate our position and start work on the next generation of products to ensure we maintain our position as thought leaders in the industry."

Roger Holden

CEO at True Position Robotics