Add as a preferred source on GoogleAgile Robots Raises $500 Million in Round Valuing It at $8.5 Billion
Founder Zhaopeng Chen said the funds would support U.S. expansion, more German production, entry into new markets and preparation for a potential IPO.
German industrial robotics company Agile Robots has raised $500 million in a round valuing it at $8.5 billion, with founder Zhaopeng Chen saying the money will support expansion and increased production.
Chen said Agile Robots would use the funds to grow in the United States, increase output in Germany, enter new markets and prepare for a potential initial public offering. SoftBank led the round, with NVIDIA among the investors.
Founded in 2018, Agile Robots combines artificial intelligence and robotics to help factories improve productivity and lower costs. The company works with partners including Google DeepMind, and its total funding has reached $2 billion.
Chen has described physical AI as one way for Europe to narrow its AI gap with the United States and China while reviving its industrial sector.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.