Glasgow Robotics Tech Gains Funding from Skype and Bolt Founders
Summary
A Glasgow technology company has secured a fresh round of funding from the billionaire founders of Skype and Bolt, along with Wolf Capital, Specialist VC and Scottish Enterprise, to further bolster its growing fleet of robotic lawn mowers for large lawns.Kingdom Technologies, established in 2018 by Joan Kangro, will use the \xa31.4m funding, which also includes grant support from Scottish Enterprise, to develop a new version of their mower and produce more than 100 units this year.Since securing \xa32m in seed funding 18 months ago, Kingdom Technologies has doubled its headcount to around 20 people, and seen a surge in customer activity in Florida, primarily cutting sports fields which generally require cutting heights between 20-60 mm. With support from the European Regional Development Fund through Glasgow City Councils business advisory scheme, Scottish Enterprise and the University of Glasgow, Joan then went on to win in the Scottish Edge Wild Card competition and RSE Unlocking Ambition Enterprise Fellowship.This latest round of funding is a precursor to the next, much larger, fundraising exercise which aims to raise a \xa320m Series A round by the end of this year to enable to grow the fleet to over 1000 robots.Research from the US Environmental Protection Agency suggests that petrol-powered lawn mowers are responsible for 12% of carbon monoxide emissions and 5% of the overall air pollution, with some states, including California, already banning or restricting smaller engine-based mowers.Kingdom robotic lawn mowers are fully electric and therefore have a significant positive impact on the environment. The faith shown in us from our current, new and potential investors means we are well on the way to achieving that ambition.The idea for Kingdom Technologies came about when Joan was asked by a friend to help install an existing robotic lawn mower. He realised that the current models had significant shortcomings, including a lengthy installation process, inefficient operation and safety concerns, which could be improved with novel new technologies.Rachel Miele, a senior solicitor in the corporate, commercial and regulatory team at Harper Macleod, said: Joan and his team are quickly growing Kingdom Technologies into a global company, underpinned by robust technology and a diverse range of investors who can support them in their ambitions. He has published more than 300 peer-reviewed papers and has held visiting scientific appointments in the US, China and with NATO.David said: I have been impressed by the energy and enthusiasm of the team at Kingdom and their ambitions to grow.
Funding
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