Roboteam, an Israeli startup that has made a global name for itself as a tactical ground robotic systems provider, recently raised $50 million, increasing its company valuation to $200 million. The company previously raised $12 million from Crossroad, which is funded by Generali Insurance Group, the largest insurance company in Italy.
According to the Israeli Calcalist newspaper, the main investors in Roboteam’s most recent fundraising effort were Singaporean investment firms. It is estimated that the Israeli startup will use the funds in order to expand its activities in the US during the upcoming year as there are significant business opportunities for the company there. “We are making efforts in order to lead the robotic domain in the world and we are planning to significantly expand,” explained the company’s spokesperson.