Found in Robotics News & Content, with a score of 15.46
July 08, 2021
…In February, Berkshire Grey entered into a definitive agreement with Revolution Acceleration Acquisition Corp. (RAAC), a special-purpose acquisition company (SPAC). The merger is expected to result in Berkshire Grey becoming a publicly listed company early in the third quarter of this year, subject to the satisfaction of customary closing conditions, including approval by the stockholders of RAAC.
Found in Robotics News & Content, with a score of 10.33
July 07, 2021
…that it will become publicly listed through a merger transaction with Rotor Acquisition Corp., a publicly-traded special-purpose acquisition company (SPAC). The transaction is expected to close in the third quarter of 2021, at which point the combined company’s common stock is expected to trade on Nasdaq under the ticker symbol “STRC.”
Found in Robotics News & Content, with a score of 27.30
July 06, 2021
…$40 million total. There were nine reported mergers and acquisitions in June 2021, with two involving special-purpose acquisition companies (SPACs). In comparison, Robotics 24/7 found 11 such transactions in May. More than $220 million of last month's fundings were Series A rounds, but Series D rounds raised more than $1 billion. Note that many companies did not disclose the amounts of their investments, so the true totals are likely higher. Here are the top 10 publicly disclosed automation transactions from June 2021.
Found in Robotics News & Content, with a score of 8.70
June 30, 2021
…Matterport announced plans to merge with special-purpose acqusition company (SPAC) Gores Holdings VI for $640 million, leading to a valuation of $2.3 billion. RJ Pittman, CEO of Matterport, replied to the following questions: We've seen open-source libraries of objects for training robots in simulation—why hasn't there been a spatial one until now? Pittman: Historically, the vast majority of open-source libraries of environments have been synthetic environments. Matterport models represent the most realistic representation of real-world environments, including all of the entropy that comes with the real world. To gauge interest in the community, Matterport previously released a dataset for academic,…
Found in Robotics News & Content, with a score of 8.83
June 28, 2021
…(AVs), including Plus merging with a special-purpose acquisition company (SPAC) for a $3.3 billion valuation, Cruise's $2 billion investment from Microsoft and $750 million from Walmart and others, and Waymo's $2.5 billion funding. Other notable deals included TuSimple's $1.1 billion IPO, Woven Planet's acquisition of Lyft's Level 5 division for $550 million, Momenta's $500 million fundraising, and DiDi Autonomous Driving's $300 million round. Xpeng said it plans to plans to use the net proceeds from its global offering to expand its product portfolio and develop more advanced technologies. It also intends to accelerate its business expansion by enhancing brand recognition,…
Found in Robotics News & Content, with a score of 24.97
June 23, 2021
…software provider Embark Trucks Inc. and special-purpose acquisition company (SPAC) Northern Genesis Acquisition Corp. II today announced that they have agreed to a merger that will lead to Embark becoming a publicly listed company. For the past five years, San Francisco-based Embark Trucks has been testing purpose-built Class 8 trucks using its autonomous driving software. The startup has partnered with leading carriers in the $700 billion U.S. trucking market such as Anheuser-Busch InBev, HP Inc., Werner Enterprises, Mesilla Valley Transportation, and Bison Transport. They pay a per-mile software-as-a-service subscription cost to deploy autonomous trucks. “We have been solely focused on…
Found in Robotics News & Content, with a score of 12.52
June 22, 2021
…before its planned merger with special purpose acquisition company (SPAC) Hennessy Capital Investment Corp. V. A filing with the U.S. Securities and Exchange Commission confirmed Bloomberg’s report. Plus said last month that it is set to have a valuation of $3.3 billion, adding $500 million in proceeds to accelerate its expansion. The Cupertino, California-based company is backed by Sequoia Capital and raised $150 million via private investment in public equity, or PIPE, from funds including BlackRock Inc. and D.E. Shaw. Plus plans for mass production Plus, formerly known as Plus.ai, is developing autonomous trucks with the stated mission of making…
Found in Robotics News & Content, with a score of 16.96
June 22, 2021
…applications. Transaction details Hong Kong-based special purpose acquisition company (SPAC) CITIC Capital Acquisition Corp. (CCAC) said Quanergy meets its investment criteria, which focus on new mobility, energy efficiency, and other sustainability themes. “Since its inception in 2012, Quanergy has developed revolutionary lidar technology and perception software that we believe are positioned for significant growth,” said Fanglu Wang, CEO of CCAC. “We are excited to collaborate with Quanergy because the company has game-changing technology for the automotive sector and is the only major lidar provider to harness the potential of OPA technology.” The pro forma implied equity value of the combined…
Found in Robotics News & Content, with a score of 10.21
June 18, 2021
…powered by natural gas. Last month, the company announced that it will enter a merger with special-purpose acquisition company (SPAC) Hennessy Capital Investment Corp. V. Plus plans to trade on the New York Stock Exchange, and it expects to be valued at about $3.3 billion upon closure of the transaction, expected in the third quarter of 2021.
Found in Robotics News & Content, with a score of 21.87
May 17, 2021
…merge with SCVX, a special purpose acquisition company or SPAC. Upon completion of the transaction, which is expected to occur in the second half of 2021, the combined company will operate as Bright Machines and be a publicly traded company. “Our industrial automation platform, powered by proprietary software and AI-driven solutions, allows even the most traditional manufacturing companies to quickly and easily deploy flexible automation solutions at scale,” stated Amar Hanspal, co-founder and CEO of Bright Machines. “We believe that our technology represents a big leap in the transformation of manufacturing, as companies adapt to growing consumer demand, intensifying competition,…
Found in Robotics News & Content, with a score of 18.49
May 10, 2021
…autonomy with L4 trucks by the end of 2024. SPAC deal details Hennessy Capital Investment Corp. V (HCIC V) is a special-purpose acquisition company (SPAC) that raised $345 million in its IPO in January 2021 and is listed on the Nasdaq Capital Market. Daniel J. Hennessy founded HCIC V to pursue an initial business combination, with a specific focus on businesses in the sustainable industrial technology and infrastructure industries. The proposed business combination has been unanimously approved by both Plus and HCIC V's boards of directors and is expected to close in the third quarter of 2021, subject to the…
Found in Robotics News & Content, with a score of 10.33
May 06, 2021
…such as the recent spate of special-purpose acquisition company (SPAC) mergers, or will there be more new entries? “We're going to see both,” said Burnstein. “For instance, Ambi recently emerged from stealth, and I would not expect to see the end of innovation or new startups.” “COVID didn’t create the move toward automation, but it certainly has accelerated trends that already were under way,” he added. “We expect increasing demand for robotics and automation to continue in North America and throughout the world after the pandemic has ended. We also expect that the increased use of automation will help companies…
