83North leads $30m series-B for Wandelbots

Existing investors Paua Ventures, EQT Ventures and Atlantic Labs also backed the company, according to a statement.

Wandelbots plans to use the fresh capital to launch its hardware product, TracePen, in June 2020.

Lead investor 83North is currently investing from its fifth fund, which held a final close on $300m in October 2019. The vehicle writes equity cheques of $1m for seed rounds, $4-8m for series-A and up to $20m for series-B rounds.

Previous funding
Wandelbots raised a seed round backed by Atlantic Labs in December 2017. In December 2018, Atlantic Labs, EQT Ventures and Paua Ventures backed a €6m series-A for Wandelbots.

Company
Wandelbots produces software and hardware for use with industrial robots. The software allows users to program, train and provide data to their robots without using coding. The company claims that its product is 10 times cheaper than classical programming.

Based in Dresden, Wandelbots was founded in 2017 and employs 54 staff, according to LinkedIn.

People
Wandelbots – Christian Piechnick (co-founder, CEO).
83North – Gil Goren (partner).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany
• EQT Ventures