RobCo, a German robotics startup focused on automating factory-floor work, has crossed the $1bn valuation mark through a share sale, according to Sifted. The deal doubles the company's valuation from January, when it raised $100m.
The transaction was structured as an employee share sale, meaning existing shares were sold rather than new equity issued. RobCo develops robots for repetitive tasks in manufacturing settings.
Sifted reports that the company's valuation now exceeds $1bn, making it a unicorn. The share sale marks a significant milestone for the startup, which continues to attract investor interest in industrial automation.