# RE2

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/re2

- Industry: Industrial Machinery
- Headquarters: Salt Lake City, US
- Website: www.resquared.com
- Total disclosed funding: $2.3M
- Latest round: Series A (Aug 18, 2014)
- Investors on record: 2

## About

Based in Utah, US, and founded in 2001 by its President and CEO, Jorgen Pedersen, RE2, Inc., operates as a developer of intelligent mobile manipulation systems for commercial and defence applications. In March 2022, Sarcos Technology and Robotics Corporation, a portfolio company of Alex. Brown, BlackRock, Caterpillar Ventures, DIG Investment, GE Ventures, JAWS, Microsoft, Millennium Management, Palantir Technologies Inc., Rotor Capital Partners LLC, and Schlumberger Limited, acquired RE2, Inc. for USD 100 million.

The company offers single and dual mobile robotic arms that can be integrated with various remotely operated vehicles (ROVs). The company’s robotic products include the RE2 Sapien™ 6M robotic arm used for remote control manipulation and placement of objects, and the RE2 Sapien™ Sea Class, used in the field of underwater robotics.

The company generated approximately USD 15 million in revenue for the fiscal year 2021.

Following the March 2022 acquisition, the company plans to accelerate the development and adoption of intelligent robotic systems.

## Funding rounds

- Series A, Aug 18, 2014, $2.3M — Magarac Venture Partners, Riverfront Ventures

## Investors

- Magarac Venture Partners (https://capitalatlas.ai/funds/magarac-venture-partners) — Series A
- Riverfront Ventures (https://capitalatlas.ai/funds/riverfront-ventures) — Series A