Agile Robots Raises $500 Million at $8.5 Billion Valuation
Agile Robots has raised $500 million in a round that values the Munich robotics company at $8.5 billion, Trending Topics reports, citing dpa and The New York Times. SoftBank led the round, with NVIDIA, Hitachi's venture arm and Deutsche Telekom's T.Capital taking part, bringing total funding to about $2 billion, TechFlow reports.
Founder and chief executive Zhaopeng Chen plans to use the money to enter the US market, develop new industrial applications and expand manufacturing in Bavaria, where a plant near Munich opened this year with capacity for up to 10,000 humanoid robots a year. The round is also meant to prepare for a possible IPO, with no timetable.
Agile Robots, a 2018 spinoff of the German Aerospace Center, makes robot arms, hands, transport systems, production cells and the humanoid Agile ONE. It says it has more than 3,500 employees and over 20,000 installed automation solutions, and works with Google DeepMind and Nvidia on AI. The company does not disclose revenue, and in June a round of about $800 million had been discussed.
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