Urgent.News

What's breaking now, across thousands of outlets.

Tech

Start-Ups: KI-Roboterbauer RobCo steigt zum Einhorn auf

RobCo knackt die Milliardenbewertung: Der Münchner Roboterbauer steigt nach einer Finanzierungsaufstockung zum Einhorn auf. Nun will das Start-up eine stärkere Präsenz in den USA zeigen.

Start-Ups: KI-Roboterbauer RobCo steigt zum Einhorn auf

Frankfurt - RobCo, a German robot-startup, has recently become the latest addition to the list of German unicorns. The company announced on Monday that its valuation has surpassed the $1 billion mark for the first time. This valuation was calculated based on the extension of an existing funding round by $40 million, which included both existing and new shares.

Some of the long-standing employees were also given the opportunity to increase their ownership stakes. The fresh capital came from both previous and new investors, including Volkswagen's venture capital arm and a Fiat family investment firm.

In January, RobCo raised $100 million from investors such as Volkswagen's venture capital division and a family investment firm headed by the Agnelli of Fiat. Roman Hölzl, co-founder and CEO of the company, said that the billion-dollar valuation is a "great milestone," but the most crucial thing now is to bring the next generation of autonomous industrial robots into factory halls.

The company plans to officially introduce "Alfie," a two-armed robot designed for industrial use, in March next year. RobCo competes in this field with other German unicorns like Agile Robots and Neura Robotics, which have also achieved billion-dollar valuations. The company further announced a stronger focus on the rapidly growing US market, with CEO Hölzl personally moving to the US to speed up the expansion.

Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at handelsblatt.com →

More in Tech

More from Monday 5 October →