Robot startup RobCo achieves unicorn status with new funding

Fresh capital, plans for a new type of industrial robot and the expansion of the US business: signs point to growth at RobCo. A current round of financing now gives the company a special status.

The robot startup RobCo is the youngest member of the group of German unicorns. The Munich-based company announced that the company's valuation had exceeded the one billion dollar threshold for the first time. The basis for the calculation is the expansion of existing financing by $40 million, which includes both existing and new shares.

Some of the long-standing employees were given the opportunity to sell company shares. The fresh money comes from existing and new investors. In January, RobCo raised $100 million from investors such as the venture capital arm of the car maker Volkswagen and an investment firm owned by Fiat's founding Agnelli family.

“The billion-dollar valuation is a great milestone,” said Roman Hölzl, RobCo co-founder and head of the company. “For us, what is most important is what comes next: bringing the next generation of autonomous industrial robotics into the factory halls.”

RobCo develops modular industrial robots that can be assembled from standardized components for different tasks in factories and later converted. Next March, the company plans to officially present “Alfie” – a two-armed, autonomous robot for industrial use. His company competes in this field with, among others, the German startups Agile Robots and Neura Robotics, which also have billions in valuation. RobCo also announced a stronger focus on the high-growth US market. Company boss Hölzl moved to the USA to personally promote the expansion.