Mikk Mägi joins Milrem Robotics as CFO

As of this week, Milrem Robotics’ Chief Financial Officer is Mikk Mägi, a long-time financial specialist and former partner in Grant Thornton Baltic.

Before joining Milrem Robotics, Mikk Mägi was the CFO and partner in charge of financial advisory services in Grant Thornton Baltic, one of the leading pan-Baltic providers of audit, outsourcing, business risk, tax, legal, financial, and business advisory services.

Mägi has long-term experience in corporate finance and has advised both local and international clients. He has prepared business plans and studies for financing purposes, conducted M&A, due diligence, and business valuation projects, helped to implement budgeting and management accounting processes, provided outsourced CFO services, and has also extensive experience in auditing.

„Milrem Robotics has grown in recent years, both in terms of turnover and geographically, and we are expanding more and more rapidly in the future. All this adds complexity and assumes that our finances are professionally planned and managed,” said Kuldar Väärsi, CEO of the company. “Mikk has two very important qualities that will help Milrem along this journey: a strong experience in the financial world and an ambition to help Milrem grow into one of the world’s leading robotics companies.”

„I have been advising Milrem Robotics for quite a long time in different aspects and see how they have grown into a leading European robotics and autonomous systems company. I am grateful for the opportunity and trust of Kuldar and his team and looking forward to contributing to the further growth of the company also from the financial management perspective,” said Mägi.

“Looking at the ambitions and rapid growth of Milrem Robotics, it is necessary to ensure that the technologies, business processes and financial leadership is ready to support it and accelerate it through automation, business intelligence, and a right capital structure,” Mägi added.

Milrem Robotics is the European leading robotics and autonomous systems developer. The company has two offices in Estonia, one in Sweden and Finland and shortly one in the Netherlands.
Milrem Robotics is the leader of a consortium that was awarded 30,6 MEUR from the European Commission’s European Defence Industrial Development Programme (EDIDP) to develop a European standardized unmanned ground system (UGS).

During the project, titled iMUGS, modular and scalable architecture for hybrid manned-unmanned systems will be developed to standardize a European-wide ecosystem for aerial and ground platforms, command, control, and communication equipment, sensors, payloads, and algorithms.