Robart, an Austria-based automated appliance hardware developer, has received €6.1m ($7.2m) in series B capital from investors including Robert Bosch Venture Capital, the corporate venturing subsidiary of industrial product manufacturer Bosch.
The round was led by CM-CIC Innovation, the private equity arm of credit union group Crédit Mutuel-CM11, and included SEB Alliance, a subsidiary of household goods producer SEB, as well as venture capital firm Innovacom.
Robart has created advanced artificial intelligence technology that can be embedded into connected household appliances, enabling them to navigate themselves autonomously.
The technology will for instance initially allow certain high-end vacuum cleaners to clear living spaces without manual operation.
The series B funding will support Robart’s expansion in Europe, Asia and the US, following the first public demonstration of its vacuum technology in August 2017.
Stéphane Simoncini, investment director at CM-CIC Innovation, will join Robart’s board of directors in connection with the round. Robert Bosch Venture Capital, SEB Alliance and Innovacom had previously supplied $4.2m in series A funding for the company in 2014.