Will Starship's Fresh €50M Rocket it Ahead of Other Robot Delivery Players?
The money is a quasi-equity facility agreement with the European Investment Bank.
Starship announced today that it has “agreed on a €50m [~$56.4 USD] quasi-equity facility agreement with the European Investment Bank,” with a venture loan component.
The company says the new money will be used for R&D and to build “thousands” more robots at Starship’s innovation facility in Tallinn, Estonia.
With $155.8 million raised so far, Starship’s warchest is far bigger than other startups in the robot delivery space such as Coco ($61.5 million) and Serve Robotics ($13 million).
There are a couple of threads we can tug at as we look at the bigger picture around this news. On its face, Starship has now far outraised its nascent competition, but what it’s doing with that money is worth noting.
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