UK-based robotic gaming company Reach Robotics has raised $7.5m in a series A round featuring Qualcomm Ventures, the corporate venturing unit of mobile semiconductor manufacturer Qualcomm.
Korea Investment Partners and IGlobe Partners co-led the round, which included game developer NCSoft, electronics and industrials group Kin Yat Holdings, London Venture Partners, Passion Capital and Hardware Club.
Founded in 2013, Reach Robotics develops battle robots which are controllable through mobile devices. The mobile apps use augmented reality to create a more immersive gaming experience.
The company plans to shortly distribute 500 units of its latest product, MekaMon, to early-stage customers for global beta testing, and will use the funding to bolster its team, maximise its existing partnerships and bring MekaMon to market.
Reach Robotics received $120,000 in seed funding in June 2015, through its participation in Qualcomm Robotics Accelerator, the San Diego-based accelerator run jointly by Qualcomm and accelerator network Techstars.
London Venture Partners reportedly led a seed round of undisclosed size for the company in early 2016 that included Passion Capital, IGlobe Partners and Hardware Club.
– Image courtesy of Reach Robotics