Sanctuary AI, a Vancouver-based robotics firm, is preparing a US$175 million capital raise, per The Logic. To bolster funding, it’s selling a majority stake in Texas-based Apptronik, acquired in 2022 for US$10M. The stake’s value soared after Apptronik’s US$350M round earlier this year.
Sanctuary may secure up to US$125M from the sale and another US$50M from U.S. venture firms. Funds will support operations and the acquisition of U.S. rival Rapid Robotics. Sanctuary builds the Phoenix humanoid robot, powered by its proprietary AI, Carbon. The firm hopes to close the round by May.
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