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Hyundai buys majority stake in Boston Dynamics at $1.1B valuation
Hyundai Motor Group has announced that it will acquire a controlling interest in Boston Dynamics in a deal that values that robotics innovator at $1.1 billion. The announcement offers confirmation of a deal that had been talked about in tech media outlets for over a week.
Under the agreement, Hyundai will hold an approximately 80 percent stake in Boston Dynamics, and that key investor SoftBank, through one of its affiliates, will retain an approximately 20 percent stake after the closing of the transaction.
Founded in 1992, Boston Dynamics is best known for its robots modeled on real-life creatures, in particular its robotic dog, Spot. Hyundai said the company’s robotics technologies will lend synergies to its work in autonomous vehicles, unmanned aerial vehicles and smart factories.
- Sweden’s Tink raises $103M for banking platform: Stockholm-based Tink, a startup offering a platform for European banks to access financial data and services, raised $103 million in a new funding round co-led by new investor Eurazeo and Dawn Capital.
- Gorgias raises $25M for customer support: San Francisco-based Gorgias, a customer support platform for merchants, raised $25 million in a Series B round led by Sapphire Ventures.
- GoFor gets $20M for on-demand last-mile delivery: GoFor Industries, an Ottawa-based startup that says it helps retailers compete with Amazon by offering fast, last-mile delivery, said it has raised $20 million in Series A funding led by Builders VC. Mark Blackwell, a partner at the venture firm, will also join the GoFor board as part of the funding, which the startup said will be used it fund its expansion in the U.S.
- IraLogix secures $7.5M for IRA products: IraLogix announced a $7.5 million Series B financing led by Great North Labs. The company has developed a cloud-native technology platform that provides paperless IRA product capability to financial services firms.
Illustration: Dom Guzman
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