# Neato Robotics

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

- Industry: Consumer Products
- Headquarters: Newark, US
- Website: www.neatorobotics.com
- Total disclosed funding: $54M
- Latest round: Series E (Aug 13, 2013)
- Investors on record: 2

## About

Neato Robotics, Inc. designs and manufactures advanced robotic vacuum cleaners, focusing on smart home solutions that enhance floor cleaning efficiency using cutting-edge navigation technology.Neato Robotics, Inc. was founded in 2005 in Newark, US, as a company dedicated to robotic cleaning solutions. In September 2017, the company was acquired by Vorwerk & Co. KG for an undisclosed amount. The CEO is Thomas Nedder. Neato has raised a total of USD 14.10 mn through multiple funding rounds, with the most recent being Series E on September 20, 2017, led by Noventi Ventures and Vorwerk Ventures. The current company valuation stands at USD 37.60 mn.The company specializes in the development and manufacturing of robotic vacuum cleaners, with a focus on their flagship product, the Neato Robo. These devices leverage advanced navigation technology to efficiently clean various types of floor surfaces while offering features such as Wi-Fi connectivity and integration with mobile applications like MyNeato. The primary end users include residential households seeking automated cleaning solutions and small businesses that require effective maintenance of their spaces. Neato has expanded its market presence across North America, Europe, and parts of Asia, catering to a broad customer base that values convenience and technological innovation in home cleaning.Neato Robotics' revenue model is primarily structured around direct-to-consumer sales of its robotic vacuum cleaners, complemented by ancillary services provided through its mobile application. Customers purchase the devices outright, with optional subscriptions for extended warranties or premium app features that enhance the user experience. The pricing structure reflects a range of models to cater to varying consumer needs and budgets, with flagship products commanding higher price points due to their advanced capabilities. The firm also engages in partnerships with retailers, expanding its distribution channels and enhancing market visibility, thereby facilitating a steady stream of transactions with both individual consumers and retail partners.Neato Robotics plans to utilize its recent funding to support the development and launch of new products, which include enhanced versions of their existing robotic vacuums expected to be released in late 2018. The company aims to expand into new markets, specifically targeting regions in Asia and South America by 2019. The recent acquisition by Vorwerk provides strategic resources for these initiatives, further enhancing their capabilities in product development and market penetration.

## Funding rounds

- Series E, Aug 13, 2013, $14M — Noventi Ventures, Vorwerk Ventures
- Series A, Jul 29, 2013, $14M — Noventi Ventures
- Series D, Apr 19, 2012, $12M — Noventi Ventures, Vorwerk Ventures
- Series C, Nov 3, 2010, $14M — Noventi Ventures

## Investors

- Noventi Ventures (https://capitalatlas.ai/funds/noventi-ventures) — Series C, Series D, Series A, Series E
- Vorwerk Ventures (https://capitalatlas.ai/funds/vorwerk-ventures) — Series D, Series E