Robotic Research gains financial firepower for commercial push
By
Ross Wilkers
Self-driving technology company Robotic Research has completed a $228 million fundraising round to gain resources for its push beyond government and into commercial markets.
Self-driving technology company Robotic Research has completed a $228 million fundraising round to gain resources for its push into commercial markets.
Robotic Research said Wednesday that its investors for this Series A round included SoftBank Vision Fund 2, Enlightenment Capital, Crescent Cove Advisors, Henry Crown and Company, and Luminar Technologies. Softbank and Enlightenment led the round.
Clarksburg, Maryland-headquartered Robotic Research has spent much of its two-decade history focused on developing autonomous vehicles for the U.S. military to use both on- and off-road.
RR.AI, the commercial division’s branding, was started by the company to build upon what it has already done for U.S. government customers and support expansion into new markets.
UBS Investment Bank acted as financial adviser and placement agent for Robotic Research. Cravath, Swaine & Moore LLP acted as legal adviser, and Covington & Burling LLP acted as special counsel to Robotic Research.