In 2018, Forestay Capital invested in Switzerland-based BlueBotics, an EPFL (Ecole Polytechnique Federale de Lausanne) spin-off and a global reference in natural navigation for automated guided vehicles and autonomous mobile robots. Today, Forestay announces the acquisition of BlueBotics by ZAPI S.p.A. (ZAPI), an Italian manufacturer of electronic components for electric and hybrid vehicles.

Following three years of close partnership, Forestay's backing helped BlueBotics triple its workforce to set the company up for scalable growth. Now, following this transaction, BlueBotics will become part of a global industrial platform, while Zapi can move up the value chain into vehicle navigation and fleet management. This is Forestay’s second partnership with an EPFL spin-off, after Nexthink, which reached the coveted unicorn status last year.

"BlueBotics joining ZAPI represents the continuation of a successful growth story, in which a start-up we first backed as a spin-off of a leading technical university joins a global industry leader because of their superior technology," said Frederic Wohlwend, Managing Partner of Forestay. "I'm absolutely convinced that ZAPI is the best partner for the future of BlueBotics.”

"This acquisition is exciting news for BlueBotics. Being part of the ZAPI Group, with its global footprint and market reach, will help us to expand more strongly around the globe, allowing us to engage with more new potential partners and even better support our existing customers," said Nicola Tomatis, CEO of BlueBotics. “We are extremely grateful to Forestay, who has been instrumental in us growing from a start-up into a strong and globally regarded Navigation Leader, and in helping us to find the ideal partner for the future.”

About BlueBotics

BlueBotics is the reference in natural navigation and has the mission to help companies meet the challenge of vehicle automation. With more than 20 years of industry experience, the company provides the autonomous navigation technology (ANT®) and support customers need to bring their automated guided vehicle, automated forklift or mobile robot successfully to market. Today, there are more than 3,000 ANT® driven vehicles in operation worldwide. www.bluebotics.com