Finance
How Cobalt robotics company raised $13 million with almost no prep
-
The security-robotics company Cobalt raised $13 million
in a Series A round of financing this year, despite putting
together a pitch deck the night before meeting with venture
capitalists. -
Cobalt’s CEO, Travis Deyle, 35, said the company wowed
investors because it was able to deliver on two goals. -
Deyle set out to have a product on the market within
the first year and land a paying customer before building
anything.
Raising venture capital for a startup is no cakewalk. There are
high stakes, probing questions from investors, and an unspoken
pressure from your employees to return to the office with a term
sheet.
So it’s noteworthy that Travis Deyle and Erik Schluntz this year
raised $13 million from investors for their security-robotics
company, Cobalt,
despite putting little time into preparing their pitch.
“Ours happened so quickly,” said Deyle, 35. “That sounds
cheesy, but we expected it to be a giant slog. The bar for a
Series A is substantial.” …
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