German robot start-up Agile Robots will receive $ 220 million, or around â¬ 186 million, in a Series C funding round. Under the leadership of Softbank Vision Fund 2, investors have estimated the The company is valued at over US $ 1 billion, which gives the Munich-based robot company unicorn status.
The other financial investors are Chimera Investment of the Abu Dhabi Royal group, GL Ventures, Sequoia China and Linear Capital. In addition, Xiaomi Group, Foxconn Industrial Internet and Midas participate in Agile Robots. The new money should mainly be spent on product development, mass production and global expansion of sales activities, Agile Robots announced on Friday. Softbank is contributing the lion’s share for an undisclosed amount.
Agile robots for industry and medicine
The remarkably high number of Chinese investors is no coincidence: in addition to its headquarters in Munich, Agile Robots has another branch in Beijing. In China, robots for industry and medicine, which differ from others in that they have dexterity similar to humans thanks to special five-finger robot hands and are therefore believed to be more versatile, are manufactured .
At present, however, the company still strongly focuses on the research, development and technical implementation of industrially usable robots. It was founded in 2018 by Zhaopeng Chen and Peter Meusel as a spin-off of the German Aerospace Center. In addition to hardware, Agile Robots also offers the right software and connects it to artificial intelligence. Some of the developments are already in use, for example at Taiwanese subcontractor Foxconn, which uses robotic arms in the production of smartphones. As a German company in China, BMW uses prototypes from Agile Robots.
The company now has sales in the millions worldwide. For 2021, these should be between 25 million euros and 30 million euros, according to the company. Investors expect things to accelerate in the future. But it also depends on the ability of the company’s robots to meet high customer expectations and how the sales department evolves. Agile Robots wants to move the latter forward with the new capital.
Investors seem certain of success. You had already invested a total of 110 million euros in two rounds in 2020.