Wandelbots receives $84 million in Series C funding round
Dresden/ Berlin — The Series C financing of Dresden-based robotics software company Wandelbots has a total volume of $84 million. This brings Wandelbots’ total funding to $123 million. The New York-based venture capital and private equity firm Insight Partners, which holds stakes in companies such as Blinkist, N26, HelloFresh, BlaBlaCar, Twitter and Shopify, has joined as a new investor. In addition, existing investors 83North, Microsoft, Next47, Paua, Atlantic Labs and EQT also participated in the financing round. — A YPOG team co-led by Benjamin Ullrich and Emma Peters provided comprehensive legal advice to Wandelbots on its latest financing round.
The no-code approach of Wandelbots allows application experts to teach their robots independently without having to have programming knowledge. An initial product, Wandelbots Teaching, is based on agnostic software with an easy-to-use interface that works the same for every robot — regardless of manufacturer or application. Wandelbots Teaching enables companies of all sizes to advance their automation with industrial robots.
The solution is expected to be used in all robots worldwide in the near future and will be available for every potential use case. To this end, the robotics software company is investing in accelerated product development. In addition to building new go-to-market organizations in North America and Asia, Wandelbots is also aiming for global expansion. As a next step, Wandelbots plans to expand and open up its robotics software platform. Providers of automation solutions and software developers can then use the technology to develop their own solutions in the shortest possible time without being tied to a specific manufacturer.
Consultant Wandelbots: YPOG
Dr. Benjamin Ullrich (Co-Lead, Corporate/Transactions), Partner
Emma Peters (Co-Lead, Corporate/Transactions), Senior Associate
Dr. Benedikt Flöter (IP/IT), Associated Partner
Wandelbots believes that the world will be a better place if people can focus on their creativity and hand over monotonous work to robots. ‘Robots for the people’ — that is the company’s motto. It represents the mission to empower every human to work with robots. For this, Wandelbots offers the simplest solution for robot programming ‘Wandelbots Teaching’ and an overarching developer platform for robotics. Currently, robots from Universal Robots & Yaskawa are being used with Wandelbots technology at companies such as BMW, Bayer, VW, Fraunhofer, Schaeffler, Rotop and Vitesco. Wandelbots has partnerships with leading OT system integrators in Europe such as Gibas, Alumotion, Heidenbluth and Sojka. Wandelbots employs more than 140 people from 17 countries — its headquarters are in Dresden, Germany.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm that invests in high-growth technology and software scale-up companies driving transformative change in their industries. Insight Partners, founded in 2005, has invested in more than 400 companies worldwide and has received more than $30 billion in capital commitments through a number of funds. Insight’s mission is to find, fund and successfully partner with visionary leaders by providing them with practical, real-world software expertise to drive their long-term success. Through its people and portfolio, Insight fosters a culture based on the belief that ScaleUp companies and growth create opportunities for all.
YPOG is a specialist tax and commercial law firm, operating in the core areas of corporate, funds, litigation, tax, transactions, IP/IT and notarial services. The YPOG team advises a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. YPOG is one of the leading addresses for venture capital, private equity and fund structuring in Germany. The firm and its partners are nationally and internationally ranked by JUVE, Best Lawyers, Legal 500, Focus, and Chambers and Partners. www.ypog.law