Munich Startup: When we last spoke, you had planned to launch your solution on the market this year. You managed to do that in April, but with a slightly different product than originally planned. What exactly happened?
Roundpeg: When we last spoke, we were still focusing on a complete solution with robots. Since then, however, we have managed to adapt our product in such a way that we can mount the sensors on robots that are already active. With its round sensor housing, our product is now actually a round peg.
Munich Startup: What new challenges did you face with the market launch?
Roundpeg: A new challenge now, of course, is to always be able to deliver. This includes, for example, operating a clean parts management system. And we also have to be able to predict to some extent when orders will arrive. It’s all “normal business” now, so to speak: production companies send us inquiries and want quotations, delivery bills and, ultimately, invoices. The robot has to arrive at the time it is ordered. Perhaps all of this has less to do with the clichéd image of a startups that we sometimes still have.
A revolutionary solution that requires explanation
However, it was a much bigger challenge to explain to customers verbally what they can do with our product. At trade fairs in particular, we see many people who don’t know what to make of it at first when you tell them that the robot stops on its own before it hits you. Especially those who have little or no experience with robots assume that this is simply the case. If you then explain to them that the robot would have simply hit them without our product, they don’t believe it at first.
For customers with a lot of robot experience, however, it’s exactly the opposite. They like to stand several meters away from the robot when they talk to us. We then present our solution to them and as we talk, the conversation moves more and more towards the robot. For these customers, it really is a surprise when the robot drives up to them and then stops.
However, it is essential for us that all of this is understood correctly. After all, it’s not just about preventing collisions. We are also changing and improving the way in which humans work together with robots. And those who already have a certain idea of what it’s like to work with a robot from their own experience sometimes simply have to see that things can be done differently.
“People need to get that into their heads now!”
Munich Startup: How are things looking now with your further growth?
Roundpeg: As I said, many people are still used to the robot standing behind a fence and doing its thing. As soon as you enter the fenced-off work area, the robot stops working. I either stand next to the robot or the robot moves when I leave the cage. People now have to realize that both are possible. However, we now have the opportunity to present one or two customer use cases, for example with Airbus. When customers see that there are solutions and that you can actually stand next to the robot and it reacts to you – then it takes on a certain momentum of its own.
Munich Startup: How is your solution being received in the factory and assembly halls? How do the people who end up having to work with the robots see the whole thing?
Roundpeg: The feedback we are currently receiving shows us that it is a huge benefit for the acceptance of robots. It is supposedly a small contribution, but it has an incredibly strong impact on the perception of people in production companies. This perception is changing away from the stupid robot that might replace you. Instead, it is seen more as a friend that respects you and that you can work with.
Munich Startup: And how are you doing financially? Are you looking for growth capital?
Roundpeg: We are now in the good position of having sales, and that helps a lot on the financial front. In terms of growth capital, we want to raise a round soon. We have realized that we are really solving a customer problem. Our solution is currently the only one that can be retrofitted to a robot and really prevents collisions. Worldwide. That’s why it’s a good opportunity to get a strong partner on board and get started. There are even already a few commitments – so things are looking pretty good at the moment.
Roundpeg wants to revolutionize the interaction between humans and robots
Munich Startup: What are your plans for the future?
Roundpeg: Our vision is to revolutionize the interaction between humans and robots in absolutely every respect. People are still very focused on production robots because manufacturing companies are simply still the main customers for robots. But everyone in the industry is hoping for the private sector. And if we can solve the problem of robots really being able to perceive their environment cleanly on their own, then that will be a strong accelerator for robots in our everyday lives. The goal – or the dream – is still for robots to do the things in the household and around us that are annoying. And our vision is to make a significant contribution by redesigning the interaction between robots and humans.
Munich Startup: What lessons have you learned as a team so far?
Roundpeg: No matter how well you know each other – we both knew each other long before we founded the company – when you build a startup together, you get to know each other in a completely different way. But what is perhaps more important for other founders is that we take a very close look at potential future team members to see whether they really share our vision. And we also have to see how they can contribute to it. And it’s surprising how powerful even a small team can be these days.
Founding a startup is like a 1,000-piece puzzle
Munich Startup: What makes a good startup ecosystem for you?
Roundpeg: It’s really valuable to exchange ideas with others. When founding a startup, there are so many issues that need to be addressed and a good ecosystem provides input from all sides on what you need to pay attention to. You can perhaps compare it to a 1,000-piece jigsaw puzzle: You get all the pieces of the puzzle thrown at you and in the end a company is supposed to come out of it. But you don’t know at all how to put it together and the ecosystem then provides the lid of the box, so to speak, on which you can see what it should look like. It’s not an exact guide, of course, but you do get a lot of input that helps you a little bit further. The good programs have understood this – but we believe that we should push this even more in Munich.
