|Post IPO Valuation|
|Evolution Robotics, 9/12||$74M|
The product of MIT, iRobot (IRBT) is the bellwether company for the emerging robot economy. It is the maker and home of the famous archetype military robot, the PackBot and of the world’s first mass-produced consumer vacuum cleaner robot, the Roomba.
Founded in 1990 by roboticists from the Massachusetts Institute of Technology, iRobot designs behavior-based, artificially intelligent robots. iRobot’s products are designed to navigate through complex and dynamic real-world situations, from maneuvering around furniture to searching abandoned buildings. Their robots are highly sophisticated, yet practical and easy to use.
To date, more than 3 million Home Robots have been sold worldwide and over 1,500 iRobot PackBot® Tactical Mobile Robots have been deployed worldwide, mostly in Iraq and Afghanistan. These robots have performed tens of thousands of missions and are credited with saving scores of soldiers’ lives. iRobot has won numerous awards for innovation and design.
iRobot has been very active in the federal SBIR program