AbstractConstant rise in industrial usage of robots for commercial applications has led to the need for rapid, efficient, and reliable robotic system development processes. The idea of collaborative modeling and simulation provides different views to the stakeholders, enhancing the decision‐making process towards design, development, and deployment. This paper 1) applies Model‐Based Systems Engineering (MBSE) principles to a robot grasping system performing a simple pick and place task, 2) integrates Cameo Systems Modeler (CSM), CoppeliaSim robot simulator, and Gurobi Optimizer to facilitate and accelerate the system design process, and 3) describes a simulation‐based Verification & Validation (V&V) framework and performs design space exploration. This is an effort to integrate tools to reduce the burden on system design, integration, and deployment of dexterous grasping and manipulation systems.