Leading robotics matchmaking platform announces new leasing option to bring industrial robot automation to the masses.
The world’s first digital robot hub, HowToRobot, announced their partnership with leading automation financing company River Capital Finance. This partnership creates the first robot-leasing service covering the entire U.S. market, making automation more affordable for businesses of all sizes.
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“Our mission at HowToRobot is to make robots accessible,” says Søren Peters, CEO of HowToRobot. “By partnering with River Capital Finance for leasing, we’re opening up the market to everyone: allowing businesses of any size to lease any kind of robot.”
While the demand for robots is higher than ever, cost remains a major obstacle to further robot adoption. According to a study by the Massachusetts Institute of Technology (MIT), businesses repeatedly cite the high costs of the robotic equipment as well as its integration into the production line as a challenge.
With this new leasing service, U.S.-based companies avoid the initial investment and pay a monthly rate much lower than the cost of renting the equipment. A robot of $130,000 could cost $2,549 a month in leasing (or $16 an hour) with integration costs included.
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“We are thrilled to offer HowToRobot’s customers a low-cost option that allows them to take that first step into the right robotics solution,” said Mike Jones, Senior Vice President of River Capital Finance. “HowToRobot was already fulfilling a huge need in the market by helping their customers select the right solution and matching them with the right provider as they start or continue their journey in robotics. Providing them an affordable option is the perfect next step to bring robotics to the masses.”
How It Works:
U.S.-based businesses can apply for 36- or 60-month leasing on robot purchases. The flat monthly rate includes the cost of the robotic solution, integration, training and more. Various lease options allow businesses to own, purchase, renew, or exchange equipment at the end of the lease term. Businesses can apply via HowToRobot, with River Capital Finance providing the financing.
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