German robotics company Agile Robots raises $500 million in new financing, valuation reaches $8.5 billion.

on November 12, according to The New York Times, German industrial robotics company Agile Robots completed a new $500 million funding round led by SoftBank with participation from investors including NVIDIA. The company's valuation reached $8.5 billion, bringing its cumulative funding to $2 billion.

Zhaopeng Chen, founder of Agile Robots, stated that the new funds will be used to expand into the U.S. market, increase production capacity in Germany, enter new markets, and prepare for a potential future initial public offering (IPO).

Founded in 2018, Agile Robots focuses on the integration of artificial intelligence and industrial robotics technology and is currently collaborating with organizations such as Google DeepMind. Zhaopeng Chen believes that physical AI is expected to help Europe narrow the gap with the United States and China in artificial intelligence, while boosting European industrial competitiveness.