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Robots that SPACINTL

Robots that SPAC

The latest winning deal in the innovation world goes to Salt Lake City’s Sarcos Robotics, which announced it is going public through a merger deal with the special purpose acquisition company Rotor Acquisition Corp. The duo isn’t aiming low either: if all goes according to plan, the new entity will have a combined valuation of $1.3b.

Sarcos Robotics is known for its surveillance robots. In the future, it plans to expand its wearable devices technologies, intended to help industrial workers move heavy objects with mechanical limbs (shoutout to Doctor Octopus for the inspo). This upgrade will hopefully allow workers to carry out arduous tasks safely and efficiently while reducing workplace injuries.

why it matters
Sarcos’ products are still quite expensive to make, which is why it needs this IPO capital boost to allow for a cheaper, higher-scale production system. So far, private investors such as Black Rock and Palantir have already invested a total of $220m in a pre-IPO funding round (so the potential is definitely there!).