Robotics startup Reach Robotics announced it has raised $7.5 million in Series A financing. Three investors participated in the round, among them Korea Investment Partners and iGlobe Partners.
Founded in 2013 by CEO Silas Adekunle, CTO Chris Beck and COO John Rees, Reach Robotics plans to create the future of gaming by fusing robotics, reality-bending technology, and competitive play. It is developing gaming monster robots that are controlled by smartphones or tablets. Reach Robotics’ first product is MekaMon, an intelligent robotics gaming platform that is enabled by software with rich content and based on a recurring revenue business model.
In its announcement, the company said the influx of capital will be used to make strategic hires and increase brand recognition through marketing.