Mentioned:
Standard Bots wants to be on the leading edge of using robotics for industrial automation. Which is exactly why they’ve just raised hundreds of millions of dollars.
What’s happening:
- Standard Bots has successfully raised $200M USD in a new Series C financing round
By the numbers:
- The new Series C financing round gives Standard Bots a post-money valuation of roughly $1B USD
Why it matters:
- Standard Bots is one of the most advanced private industrial robotics companies in North America and has been aggressively scaling up their manufacturing of robotic arms for factory automation in the United States at their facility located in Glen Cove, New York
Going deeper:
- Closed-end investment fund RoboStrategy (NASDAQ: BOT) was notably the lead investor in Standard Bots’ new Series C financing round
- Some of the largest venture capital investors in the world are early backers of Standard Bots including General Catalyst, Amazon (NASDAQ: AMZN), Samsung Next and GiantLeap Capital
The intrigue:
- Standard Bots’ robotic arms are being used at factories owned and operated by large companies across oil and gas, aerospace and data centres and they’ve also won contracts with publicly traded companies including both Lockheed Martin (NYSE: LMT) and Verizon (NYSE: VZ)
