Thursday, April 19, 2012

Neato Robotics Recharges With $12.2M More

Newark, California-based Neato Robotics, a developer of household cleaning robots, reported Thursday that it has raised $12.2M in a Series D funding round. The lead investor on the round was Vorwerk Ventures, a German investment firm, as well as Noventi Ventures. Neato Robotics said the new funds will go to expand its operations, sales and marketing, as well as for product development. Neato Robotics is headed by Warren Flick. The firm's products compete head to head against such similar robotic cleaning products as the Roomba and Mint. More information »