# Evolution Robotics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evolution-robotics

- Industry: Industrial Machinery
- Headquarters: Pasadena, US
- Website: www.evolution.com
- Total disclosed funding: $14M
- Latest round: Series B (Nov 10, 2008)
- Investors on record: 3

## About

Evolution Robotics Inc. specializes in providing advanced online casino technology, focusing on innovative live gaming solutions that enhance player engagement and experience.Founded in 2001 in Pasadena, US, Evolution Robotics Inc. focuses on delivering live gaming solutions for the online casino market. The company was acquired by iRobot Corporation in a Trade Sale for USD 74.00 mn on September 18, 2012. The founding team includes Eric Faison, Eric Sweet, and others, contributing to the company's innovative approach in live gaming. Evolution Robotics has successfully completed 2 deals since its inception.Evolution Robotics Inc. is a prominent provider of online casino technology, offering a variety of live casino games, game shows, and first-person games aimed at enhancing player experiences. Their product lineup features engaging titles such as Ice Fishing, Bet Stacker Blackjack, Super Speed Dragon Tiger, and Lightning Bac Bo, which incorporate mechanics that allow for multipliers up to 5,000x. Their solutions cater to online casinos and gaming operators across North America, Europe, and Latin America, reinforcing their role in the online gaming sector.The revenue model of Evolution Robotics is primarily built on partnerships with online gaming operators, where they provide live casino technology and game content. The company engages in B2B transactions, allowing operators to seamlessly integrate Evolution's games into their platforms. Revenue is generated through fixed licensing fees, revenue sharing agreements, and performance-based incentives, thereby enabling operators to offer a diverse range of live dealer games. The company’s flagship products, including Ice Fishing and Bet Stacker Blackjack, help meet the demand for engaging live gaming experiences across the global online casino market.Following the acquisition by iRobot Corporation, Evolution Robotics intends to leverage recent funding to enhance its product offerings and expand its market reach. The company is focusing on developing new game titles and innovations set to launch in the upcoming years. Plans are underway to penetrate emerging markets in Asia and Latin America by 2025, aiming to capitalize on the growing interest in online gaming in these regions. The strategic use of the USD 74.00 mn obtained from the Trade Sale will support these growth initiatives.

## Funding rounds

- Series B, Nov 10, 2008, $14M — Presidio Partners, Idealab, The Quercus Trust

## Investors

- Presidio Partners (https://capitalatlas.ai/funds/presidio-partners) — Series B
- Idealab (https://capitalatlas.ai/funds/idealab) — Series B
- The Quercus Trust — Series B