"Existing investors including Sequoia, Lightspeed, Greenfield, Kindred, Lingotto and Promus Ventures participated alongside new backers Cherry Ventures and European Tech Collective."
Why not? Huge companies like Schlumberger work on a similar model. I mean these are not AI businesses (yet) but commercially the model is the same: develop gear in house and rent it out together with the specialists who operate it.
Huh? I thought that was their entire selling point. That you can have a factory that needs retooling and instead of having to carefully plan and buy robots yourself, you can hire these guys instead.
The comments here are just another reminder of how US-centric HN has become. Whenever there's positive news from Germany or elsewhere in Europe, people are quick to dismiss it. But the moment there's negative news, everyone jumps on the bandwagon to bash it.
Good thing then that the chancellor cannot just introduce laws in Germany then. One of the perks of having actual democratic institutions that aren’t just for show.
In Germany chancellor is a character who holds a parliamentary majority, and they creativity can and do introduce laws against the will of the majority of German voters.
I just found out about them. To me it seems their core product is "boring" industrial robots with some AI fluff on top, which imho is smart because you can capaitalize on the hype without having it be pivotal to their entire business model. What I find interesting is the robot-as-a-service model.
I assume you got a spouse or parent do all the laundry for you? I’m not sure you realize how spoiled you sound.
Seriously a laundry folding robot excites me much more than a CLI that can generate code. I enjoy generating code myself! I don’t enjoy laundry. Total killer app.
At the risk of making yet another wrong assumption, that sounds like you don’t have a family?
Fwiw laundry takes a pretty significant chunk out of my weekend. I wouldn't spend “thousands of dollars” to reduce it but at around the price of a new phone I’m totally in the market.
Definitely not.
I have laundry that I hang. Everything else goes unfolded into sorted bins.
Of course it drives my wife crazy, and if she takes my laundry out of the dryer, she folds it. What drives her more crazy is that I proceed to just dump it in the bins.
I understand why humans get fixated on the nominal threshold of a large, round number like $1B.
But the thing about private market valuations is that you can't know if investors are right ex ante, so it's helpful to discount.
A $1B valuation sort of just means you now effectively "owe it" to shareholders, and you're now 100% incentivized to deliver that to them in some form, instead of being fully incentivized to deliver on your true vision to your customer.
When done well, private diligence can help uncover blind spots and fund company growth in key areas at the service of that true vision.
When done poorly because of FOMO over AI, robotics, or the latest hype, it can turn into preemptive enshittification.
What share of the investor money is from USA?
https://deepmind.google/models/gemini-robotics/
And not sure what RobCo is doing exactly, but LLMs are probably part of it as well.
Oof. Amazed that venture-backed robotics companies are still interested in making this work.
this one doesn't sound that evil though? Just a simple portmanteau that may not sound as stupid in German?
Eyerolling to anyone with half a brain.
But maybe most people don't have half a brain.
They, per the article, have set up manufacturing there and a research lab in SF.
The co-founder has also relocated to the USA.
Much of the dismissal I think doesn’t come from a bad place - people see potential in europe, why can’t we be a similar market?
SCNR
But it looks like they're trying to build something that is actually useful.
Seriously a laundry folding robot excites me much more than a CLI that can generate code. I enjoy generating code myself! I don’t enjoy laundry. Total killer app.
What a weird accusation. I do this myself, it takes like half an hour a week and is actually quite relaxing.
I'm not sure you realize how spoiled people sound who would spend thousands of dollars to replace such an insignificant inconvenience.
Fwiw laundry takes a pretty significant chunk out of my weekend. I wouldn't spend “thousands of dollars” to reduce it but at around the price of a new phone I’m totally in the market.
But the thing about private market valuations is that you can't know if investors are right ex ante, so it's helpful to discount.
A $1B valuation sort of just means you now effectively "owe it" to shareholders, and you're now 100% incentivized to deliver that to them in some form, instead of being fully incentivized to deliver on your true vision to your customer.
When done well, private diligence can help uncover blind spots and fund company growth in key areas at the service of that true vision.
When done poorly because of FOMO over AI, robotics, or the latest hype, it can turn into preemptive enshittification.
Germans are totally capable of their own scams (see Dieselgate or Berlin airport or ...).