RobCo Reaches $1bn Valuation in Employee Share Sale
Sifted reports German factory robotics startup RobCo has surpassed a $1bn valuation through an employee share sale, doubling its January valuation as it plans further US expansion.
The share sale gives RobCo unicorn status without a new funding round. According to Sifted, the company's valuation has now passed $1bn, up from the level set earlier this year. RobCo raised $100m in January, and the latest employee share sale values it at twice that earlier valuation.
RobCo's technology is aimed at automating factory-floor work. Sifted reported that the company is setting its sights on further expansion in the United States. The report described the transaction as an employee share sale rather than a new funding round.
The company's new valuation places it among European robotics startups valued at more than $1bn. RobCo raised $100m in January, and the latest transaction doubles the valuation from that period.