Among the barriers to entry for automation is the challenge of financing. River Capital Finance this week said it has partnered with Mobile Industrial Robots ApS to offer custom, flexible financing options to companies that want to add robots to their warehouse operations.
“With the current labor shortages and rising inflation, the need for warehouse automation is more crucial than ever,” said Mike Jones, senior vice president at River Capital Finance. “We're excited to be able to offer financing solutions to Mobile Industrial Robot's customers so they can easily integrate automated solutions into their warehouses.”
Cleveland-based River Capital said it makes hardware more accessible through fast, convenient leasing options. The firm said it offers numerous payment plans, term-end options, and equipment-return policies for cutting-edge technologies.
River Capital Finance has been providing leasing for warehouse equipment for more than 30 years. It specializes in radio frequency identification (RFID), automatic identification and data capture (AIDC), warehouse automation, mobile computing, and point-of-sale (POS) equipment.
Partners aim to ease initial investment in robots
Orders for robots in the U.S. increased by 28% in 2021 to an all-time high of almost 40,000 units, reported the Association for Advancing Automation (A3). With the COVID-19 pandemic and a renewed focus on manufacturing in the U.S., business of all sizes across industries are interested in automation, noted the companies.
“Automation is a game-changer for manufacturers and in warehouse operations, and businesses need to optimize their workflows to maintain a competitive edge,” said Rasmus Smet Jensen, group marketing director at Mobile Industrial Robots.
“The initial investment can be hard for small-to-medium-sized business to afford, so River Capital Finance's leasing solutions are a great way for those companies to afford automation and get mobile robots running at a low monthly cost,” he said.
River Capital is offering mobile robots through a version of the robotics-as-a-service (RaaS) model.
“We've been doubling down on robotics, as the warehouse industry started to see significant changes,” added Jones. “We're proud to be at the forefront of this new industry and are looking forward to helping companies achieve the efficiency they need to be successful.”
About Mobile Industrial Robots
Mobile Industrial Robots (MiR) said it develops and manufactures collaborative and secure autonomous mobile robots (AMRs). The Odense, Denmark-based company claimed that they can quickly, easily, and cost-effectively manage internal logistics, freeing employees to carry out more value-added activities.
MiR said that hundreds of midsize companies, major international enterprises, logistics centers and hospitals all over the world have installed its robots. The company has a global network of distributors in more than 60 countries. It has regional offices in New York, San Diego, Singapore, Frankfurt, Barcelona, Tokyo, Seoul, and Shanghai.
MiR said has grown quickly since it was established in 2013, and its turnover has increased significantly every year. The company was established by experts from the Danish robotics industry, and Teradyne acquired it in 2018.