Press release

Mobile Industrial Robots (MiR) Launches MiR Finance – a “Robot as a Service” (RaaS) Leasing Program

Sponsored by Businesswire

Mobile Industrial Robots, the first mover and market leader in
autonomous mobile robots (AMRs), today launched its new mobile robot
leasing program. Often referred to as ”robots as a service” (RaaS),
leasing lets companies of any size—from small start-ups to multinational
enterprises—deploy mobile robot solutions with low (or no) upfront costs
and low monthly payments. This lowers financial barriers for investing
in AMRs and gives customers a near immediate return on investment (ROI).

“While sales of our mobile robots continue to thrive, many companies
still prefer to lease their logistics equipment rather than make a
capital investment upfront,” said Thomas Visti, CEO, MiR. “Leasing the
robots becomes an operational expenditure instead, enabling our
customers to quickly get started reaping the benefits AMRs offer as they
automate monotonous, repetitive, and often injury-prone manual material

With MiR Finance, customers get the chance to lease the “full package,”
including the robots, integration and top modules for the robots. The
monthly cost of the leasing depends on the type of robot and the length
of the leasing period, but a simple calculation shows that it costs
$4.44 per hour (or $711 per month) to lease a MiR100 robot if it runs in
one-shift operation. Thereby, MiR Finance becomes an attractive way of
investing in mobile robots and start optimizing internal logistics.

Flexible Terms, Maintenance Provided
distributor network will be working with a third-party company to
provide lease programs for the customer. The leasing terms are flexible,
with 48 months being a popular option. MiR’s distributors will continue
to be responsible of first-level support, service and maintenance. In
this way, not much will change for the end-customers, that will now have
one more option in terms of payment for their robots, while the usual
benefits from MiR’s global reach and local support will continue.

The RaaS market grows
, a market-foresight advisory firm providing strategic
guidance on the most compelling transformative technologies, last year
estimated that the installed base for RaaS will grow from 4,442 units in
2016 to 1.3 million in 2026. The yearly revenue from RaaS providers is
expected to increase from $217 million in 2016 to nearly $34 billion in

“The Robot-as-a-Service (RaaS) model of delivering autonomous mobile
robots is helping to bring automation in the form of robotics to new
markets that might otherwise not be able to make investments in this
technology,” said John Santagate, research director for Commercial
Service Robotics at IDC. “This model allows buyers to reduce the risk of
deploying robotics, as the vendors shift from selling robots to selling
usage and outcomes. We see this model as a key element in the current
and ongoing growth in the market as it brings this technology to buyers
and markets that might not otherwise make investments in robotics.”

About Mobile
Industrial Robots:

Mobile Industrial Robots (MiR) develops
and markets the industry’s most advanced line of collaborative and
safe autonomous mobile robots (AMRs) that quickly, easily and
cost-effectively manage internal logistics, freeing employees for
higher-value activities. Hundreds of mid-sized through large
multinational manufacturers and logistics centers, along with several
hospitals around the world, have already installed MiR’s innovative
robots. MiR has quickly established a global distribution network in
more than 40 countries, with regional offices in New York, San Diego,
Singapore, Frankfurt, Barcelona and Shanghai. MiR has grown quickly
since its founding in 2013, with sales rising by 500% from 2015 to 2016,
and 300% from 2016 to 2017 and 160% from 2017 to 2018.

Founded and run by experienced Danish robotics industry professionals,
MiR is headquartered in Odense, Denmark, and was recently acquired by
Teradyne, the leading supplier of automated test equipment. In 2015,
Teradyne also acquired the Danish company Universal Robots. Due to its
growth results the last years, Mobile Industrial Robots was awarded EY
Entrepreneur of The Year in Denmark in 2018. For more information, visit

Press Photographs:
High-resolution images of robots at
client sites can be found here: