The German robot start-up Agile Robots will receive US $ 220 million, around EUR 186 million, in a Series C financing round. Under the leadership of Softbank Vision Fund 2, the investors estimated the company’s value at more than one billion US dollars, which gives the Munich-based robot company the status of a unicorn.
Other financial investors are Chimera Investment from the Abu Dhabi Royal Group, GL Ventures, Sequoia China and Linear Capital. In addition, the Xiaomi Group, Foxconn Industrial Internet and Midas participate in Agile Robots. The fresh money should mainly flow into product development, mass production and the global expansion of the sales business, announced Agile Robots on Friday. Softbank contributes the lion’s share in an undisclosed amount.
Dexterous robots for industry and medicine
The noticeably large number of Chinese investors is no coincidence: In addition to its headquarters in Munich, Agile Robots has another branch in Beijing. In China, the robots for industry and medicine, which differ from others in that they have a similar dexterity to humans thanks to special five-finger robot hands and are therefore supposed to be more versatile, are manufactured.
At the moment, however, the company’s focus is still heavily on research, development and technical implementation of the 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 the hardware, Agile Robots also offers the right software and connects it with artificial intelligence. Some of the developments are already in use, for example at the Taiwanese contract manufacturer Foxconn, which uses the robotic arms in smartphone production. 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 are counting on things going up steeply in the future. But that also depends on whether the company’s robots can meet the high expectations of customers and how the sales department is progressing. Agile Robots wants to advance the latter with the new capital.
Investors seem certain of success. You had already invested a total of 110 million euros in two rounds in 2020.