Germany-based conglomerate Vorwerk Group’s corporate venturing unit has helped US-based robot household chore company Neato Robotics raise $12.2m on Thursday.
Vorwerk Direct Selling Ventures was joined by Noventi Ventures backing the series D round.
The business’ first product won a Stanford University Graduate School of Business competition. It was founded in 2004 and has raised $35m in funding.
Vorwerk Ventures formed a strategic partnership with Neato Robotics during 2011. They developed a co-branded product for the European market, which is sold in Germany, Italy, Austria and the Czech Republic.