LATEST NEWS AND DEVELOPMENTS
Argo AI, a Pittsburgh startup, has sold a majority share of their company to Ford Motor Co. which has agreed to invest $1 billion over a five year schedule but will immediately become the majority shareholder. Both companies declined to disclose further details.
January fundings for robotics-related startups totaled over $123 million - a reasonable start for the new year. For acquisitions, three of the six companies acquired reported that $390.5 million traded hands. All in all another strong month for robotics.
By investing $6 million in robots, Bicycle Corporation of America (BCA) was able to take back 10% of their manufacturing from China and place it into a new factory in Manning, South Carolina employing 140 new workers.
Headquartered in Pittsburgh, PA, the new institute is made up of governments, industry, academia, and non-profit organizations from across the country. Combined they have contributed $173 million that will be fused with $80 million in federal funding.
After another rollercoaster ride of a year, the ROBO Global Robotics & Automation Index managed to advance an astounding +18.9% for 2016, outperforming the S&P 500 and ACWI by 7% and 10%, respectively. Interestingly, from the depths of despair in February, the ROBO Global Index rallied +38% into ...
2016 is history! Welcome to 2017. ROBO Global brings you a full robotics & automation market reflection and forecast for investors.
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