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RobCo valuation doubles to $1B
German robotics startup RobCo raises $40M led by Sequoia and Lightspeed, doubling its valuation since January.
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German industrial robotics startup RobCo announced the closure of a $40 million funding round, pushing its valuation above $1 billion.
The transaction primarily involved current and former employees selling shares to investors including Sequoia and Lightspeed. This represents a doubling of the company's value compared to January.
RobCo specializes in logistics and manufacturing automation, featuring the Alfie mobile robot and RobVision AI engine. The capital will support CEO Roman Hölzl's move to San Francisco to expand the company's U.S. presence.