The following article about MassTLC member Vecna Robotics originally appeared on Xconomy.com.
Vecna Technologies’ logistics robotics business has raised $13.5 million in venture capital, according to a filing with the SEC.
The funding for Vecna Robotics marks the first outside equity investment in any of 20-year-old Vecna’s businesses. Last year, Vecna completed a reorganization in which it split its various products and services into separate businesses operating as wholly owned subsidiaries. Through its first two decades, Vecna has been mostly self-funded, outside of winning grants, co-founder Daniel Theobald told Xconomy in April of last year. But he said that strategy was changing—Vecna’s logistics robotics business planned to raise at least $10 million in venture capital.