Munich robotics company Agile Robots has raised fresh capital of $500 million (about €450 million), according to a dpa report carried by heise online. The valuation rises to $8.5 billion. According to the report, total capital raised since founding now stands at around $2 billion.
What the company does
According to the report, Agile Robots is regarded in the industry as a leading global provider of embodied artificial intelligence, meaning learning systems that combine software and mechanics. The portfolio ranges, according to the source, from mobile transport systems and manufacturing cells to sensitive robotic arms, robotic hands and grippers, and human-like robots on legs or wheels. Its control basis is an in-house platform that draws on real industrial data.
Investors and plans
According to the report, the round was led by Japan's SoftBank Group. Other investors include Nvidia, Hitachi with its investment arm, and the investment firm T.Capital. According to the source, the money is intended to fund market entry in the US and new industrial applications. The company is also strengthening domestic production: according to the report, a new site in Fürstenfeldbruck near Munich began operating earlier this year and is designed for up to 10,000 humanoid robots per year.
Background
According to the report, Agile Robots was founded in 2018 as a spin-off from the German Aerospace Center (DLR) in Oberpfaffenhofen. According to company information, more than 20,000 automation solutions are in use worldwide, the company employs over 3,500 people at more than 25 sites and holds over 650 patents. According to the source, customers include groups from the automotive, consumer electronics, healthcare and logistics sectors. Acquisitions include Franka Robotics, idealworks and Thyssenkrupp Automation Engineering.
Assessment
According to the source, these figures come from the company and the dpa report, and we have not independently verified them. For German mid-sized firms, a well-capitalised provider could become relevant if its solutions for manufacturing and warehousing spread more quickly. It remains open how fast the US expansion and the production build-up in Bavaria will actually be implemented.
Sources
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