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Israeli robot company Roboteam raises $50 millionRoboteam, an Israeli startup that produces tactical ground robotic systems, recently raised $50 million. The company valuation is now estimated at $200 million. “We are making efforts in order to lead the robotic domain in the world and we are planning to significantly expand,” explained the company’s spokesperson.
Roboteam, an Israeli startup that has made a global name for itself as a tactical ground robotic systems provider, recently raised $50 million, increasing its company valuation to $200 million. The company previously raised $12 million from Crossroad, which is funded by Generali Insurance Group, the largest insurance company in Italy.
According to the Israeli Calcalist newspaper, the main investors in Roboteam’s most recent fundraising effort were Singaporean investment firms. It is estimated that the Israeli startup will use the funds in order to expand its activities in the US during the upcoming year as there are significant business opportunities for the company there. “We are making efforts in order to lead the robotic domain in the world and we are planning to significantly expand,” explained the company’s spokesperson.
Among the company’s clients are the IDF, Israeli security establishment, Polish National Defense Ministry, US Army and US Department of Homeland Security.
One of Roboteam’s major clients is the US Department of Defense. Last year, Roboteam and the Department of Defense signed a deal according to which the Israeli startup will supply the Department of Defense with 250 robots in exchange for $25 million. Prior to this deal, Roboteam won a tender that the Pentagon issued for Micro Tactical Ground Robot (MTGR) vehicles.
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It was reported recently that Roboteam reached a deal with the IDF. According to the deal, Roboteam will supply the IDF with robots that will eventually be used by the Israeli military’s combat units.
Roboteam was founded in 2009 by Elad Levy and Yosi Wolf. Today, Levy and Wolf are CEOs of the company that employs about 100 employees at its Israel and US headquarters. In the beginning, the startup worked out of a garage. However, Roboteam grew over the years and became an internationally known company for tactical ground robotic systems.
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