// startup autopsy
Blueye Robotics (Consumer Division)
Norwegian engineering quality, Chinese price competition, no winner.
runway zeroMarket Exit
| Founded | 2016 |
|---|---|
| Closed | 2022 |
| Country | Norway |
| Sector | Hardware |
| Founder | Christian Brunvoll, Frederic Thorkildsen |
22%
20%
Key Events Timeline
2016
FOUNDING
Blueye Robotics founded in Trondheim, spun out of NTNU, to build consumer and pro underwater ROVs
2018-09
FUNDING
Raised NOK 85M from Investinor and Nordic VCs; launched Blueye Pioneer at $3,499
2020-06
PRODUCT LAUNCH
Chasing Innovation launched M2 ROV at $1,399, undercutting Blueye by 60% with comparable specs
2022-04
MARKET EXIT
Consumer division discontinued after NOK 40M burned; company pivoted to professional B2B only
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