German start-up Agile Robots raises half a billion in funding round

German robotics company Agile Robots has secured $500 million in fresh capital in a new funding round, lifting the valuation of the Munich-based firm to $8.5 billion.

The company has now raised about $2 billion in total since it was founded.

Agile Robots is regarded in the industry as a leader in physical artificial intelligence, meaning systems that combine AI software and mechanics. 

Its portfolio ranges from mobile transport systems and complete production cells to sensitive robotic arms, and to highly developed robotic hands and grippers that can perform delicate tasks. Another focus is on humanoid robots with legs or wheels. 

The funding round was led by Japan's SoftBank Group. Other investors include US chipmaker Nvidia, industrial group Hitachi with its investment arm, and investment firm T. Capital.

With the fresh money, the company plans to drive forward its global expansion, including market entry into the US. 

At the same time, Agile Robots is strengthening its domestic production capacity. Only earlier this year, the company commissioned a new production site in Fürstenfeldbruck near Munich to meet sharply rising demand. The plant is designed for annual production of up to 10,000 humanoid robots.

"Physical artificial intelligence will fundamentally change the way the world makes, moves and produces things," said founder and chief executive Zhaopeng Chen said. 

The company's aim, he said, is to have intelligent robots work alongside people across the board in factories and warehouses. "We are bringing this technology from the lab directly into industrial series production," Chen said.