Robert Bosch Venture Capital (RBVC) has sold its share in Aethon, Inc., to Vision Technologies Land Systems, Inc. (VTLS). VTLS is a wholly-owned subsidiary of Singapore Technologies Engineering Ltd (ST Engineering). Based in Pittsburgh, Pennsylvania, Aethon is best known for its TUG® smart autonomous mobile robot which helps automate intra-logistics in industrial, healthcare, hospitality and other commercial environment. The acquisition of Aethon is in line with ST Engineering’s focus to strengthen the Group’s robotics business. Aethon is now part of the Group’s Land Systems sector.
“It has been an amazing development for this high-tech company so far. The flexibility of the TUGs allowed Aethon to grow from hospital applications into wide spread usage across different industries with over 30 million deliveries made to-date. We think this acquisition is the stepping stone for further acceleration of growth” says Jan Westerhues, Investment Partner of RBVC and former Board Member of Aethon.
RBVC originally invested in Aethon in 2010. This investment at the time was the first in a series of RBVC investments in the robotic technology space. Today, the RBVC portfolio encompasses leading robotics start-up companies such as Robart, Tetravue, Zimplistic or AIMotive. “Investments in robotic systems and components are an integral part of RBVC’s strategy around IoT, automated driving and advanced household appliances”, comments Ingo Ramesohl, Managing Director of RBVC.
Start-ups interested in getting in contact with Robert Bosch Venture Capital can find more information at www.rbvc.com.