LATEST NEWS AND DEVELOPMENTS
It's been a big year for acquisitions of companies involved in robotics and automation: 48 have sold thus far in 2016. Eight involved amounts over $500 million and five were over a billion; KUKA's acquisition by Chinese consumer products giant Midea was the biggest at $5.11 billion.
Seventeen robotics-related companies got funded for a combined total of over $225 million. Four more got acquired. Three went public to raise funds. And one failed.
Zoox, the secretive Silicon Valley startup working to build its own self-driving cars, has quietly raised $50 million (in October) in a Series A round led by Composite Capital Management, a Hong Kong-based hedge fund. This brings Zoox's total equity funding to $290 million.
October fundings for robotics-related startups totaled $306.75 million bringing the year-to-date funding figure very close to $1.5 billion. For acquisitions, three of the six companies acquired reported that $390.5 million traded hands. All in all another strong month for robotics.
In a world where futuristic & financial developments roll out on the regular, ROBO Global takes the time to find the need to know robotics news for investors. Here are the highlights from the week of October 15- 21 in the world of robotics & automation:
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