RobCo reports $1 billion valuation after secondary share sale
Article image: The Economic TimesRobCo makes robots for manufacturing and is expanding its US business. Reuters, via The Economic Times, reports that a secondary share sale put the German company above a $1 billion valuation and that its CEO relocated to the US. The transaction involves existing shares and should not be confused with a fresh $1 billion capital raise.
DTT summary based on The Economic Times's report. The full article is on the publisher's site.
Round details
Makes robots for manufacturing and industrial applications.
- Latest event is a secondary share sale, not new primary capital.
- January capital raise: $100M with Lightspeed, Sequoia and Lingotto.
- Valuation: $1B+
- Secondary buyers: Cherry Ventures, European Tech Collective