SoftBank recently reported a massive $23bn quarterly loss in 1Q22 (source: FT.com) and announced more cautious investment criteria and smaller equity stakes in the future.
What might this mean for the robotics companies remaining in SoftBank's portfolio?
Will there be a push to exit companies earlier, not invest in additional rounds, more pressure on management (robot companies) to commercialise/grow sales, etc?
In STIQs experience, SoftBank typically invests at later stages and attempt to be a kind of flywheel for increasing valuations, or valuation expectations. Some of SoftBank's portfolio companies have started working with other SoftBank portfolio companies or subsidiaries (this is relatively common among PE firms).
It should be noted that many of the robotics companies with investment from SoftBank also have multiple other investors. STIQ recommends readers check publicly available sources, such as Crunchbase for additional research.
SoftBank's Robotics Companies
STIQ has compiled a list of companies SoftBank has exited from and those they retain an interest in.
Exited companies (or partial exits):
- Aurora [autonomous trucks]
- STIQ Report: Autonomous Delivery/Last Mile Robots [free download]
- AutoStore [warehouse automation]* IPO
- STIQ Report: G2P Solutions [free download]
- Boston Dynamics [robotics research] acquired by Hyundai Motors
- Berkshire Grey [warehouse automation] IPO
- STIQ Report: G2P Solutions [free download]
- Fetch Robotics [mobile robots] acquired by Zebra
- STIQ Report: AGV & AMR Robotics [free download]
- Symbotic [warehouse automation]* IPO
- Cruise [autonomous cars] equity stake divested to GM
* SoftBank may have retained a significant equity stake in these companies post-exit
Current portfolio companies:
- Nuro [delivery robots]
- STIQ report: Autonomous Delivery report [free download]
- CMR Surgical [medical robots]
- Brain Corp [robot navigation software]
- STIQ report: eGrocery Infrastructure [free download]
- Bear Robotics [hospitality robots]
- Goggo Network [system integrator, Autonomous Vehicles]
- STIQ Report: Autonomous Delivery/Last Mile Robots [free download]
- Keenon Robotics [hospitality robots]
- Gaussian Robotics [cleaning robots]
- STIQ Report: Cleaning Robots [free download]
- Opentrons [medical testing robots]
- Youibot [mobile robots]
- STIQ Report: AGV & AMR Robotics [free download]
- Avalon SteriTech [sterilisation robots]
- Agile Robots [cobots]
- URG [robotics] [source]
- XAG [drones]
- STIQ Report: Farm Robots [free download]
- JD Logistics [automation + fulfilment]
- STIQ Report: G2P Solutions [free download]
- RightHand Robotics [picking robots]
- STIQ Report: G2P Solutions [free download]
- Didi Autonomous [autonomous cars]
- Robotics Research [autonomous cars]
Other (IoT, devices, etc.):
- CloudMinds (Wright Robotics in the US) [IoT/AI]
- Light [camera technology]
- Accel Robotics [autonomous store/retail tech]
- and many others...
We would love to get your views - are there any robotics companies we missed? Has SoftBank exited companies we have listed as current? Do you have any views on these companies?
IMPORTANT NOTES:
- This is a snapshot as SoftBank frequently retains a stake in businesses after exit/IPOs and run complex financial arrangements (like many of their peers).
- SoftBank is made up of a large number of entities and not all of them are directly related to SoftBank, i.e. some entities may have been divested from the core group.
- This list is not exhaustive and is primarily focused on Vision Fund 1 & 2 (link)
- This is not investment advice - STIQ strongly recommends readers do their own research before investing
Views on SoftBank, other investors and their involvement in the robotics sector? Post a comment (we monitor comments).