RobCo combines new investment with employee liquidity at $1bn-plus valuation
Cherry Ventures and European Tech Collective joined existing backers in a transaction whose size was not disclosed.
RobCo announced a transaction on October 5 that brings new investment into the robotics company and allows long-standing employees to sell part of their holdings. The deal values RobCo above $1 billion; the company did not disclose the amount invested or the split between new capital and secondary sales.
Sequoia, Lightspeed, Greenfield, Kindred, Lingotto and Promus Ventures participated alongside new investors Cherry Ventures and European Tech Collective, a group of European technology founders.
The transaction follows RobCo’s $100 million Series C in January. The company supplies industrial automation through a robotics-as-a-service model, and the United States has become its fastest-growing market, with manufacturing and assembly operations in Austin and a laboratory in San Francisco.