Munich-based robotics company Agile Robots has raised US$500 million in new funding. The round values the company at US$8.5 billion. Agile Robots builds industrial robots that combine software and mechanics for precise tasks.
Funding details
SoftBank Group led the investment round. Nvidia, Hitachi's investment arm, and T. Capital also participated. The company has raised around US$2 billion since its founding.
Company roots
Agile Robots was founded in 2018 as a spin-off from the German Aerospace Center. Founder Zhaopeng Chen had developed a sensitive robot hand at the center. The company now employs more than 3,500 people at over 25 locations worldwide.
Products and customers
The company sells transport systems, manufacturing cells, robot arms, and grippers. Its robots handle delicate tasks that once required human judgment. Customers include automotive, consumer electronics, healthcare, and logistics companies.
Agile Robots plans to enter the US market with the new capital. It will also develop new industrial applications. The company recently opened a production site in Fürstenfeldbruck with capacity for up to 10,000 humanoid robots per year.
Read more: reuters.com