Robotics startup RobCo valued at $1B+ in $40M funding round

Robotics startup RobCo valued at $1B+ in $40M funding round

Industrial automation startup RobCo Inc. today announced that it has closed a $40 million funding round.

Most of the shares that changed hands were sold by current and former employees. The investor consortium that bought the equity included Sequoia, Lightspeed and several other startup funds. RobCo is now valued at more than $1 billion, double what it was worth in January.

Germany-based RobCo sells more than a dozen robots designed…