Peter Thiel backed RoboteX raise 2m of 5m round

Peter Thiel-backed RoboteX raises $2M of $5M round

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RoboteX, a Palo Alto startup that grew from Stanford Labs and is backed by former PayPal exec Peter Thiel, said on Friday it has raised $2 million in a new $5 million funding round. Shown here is its latest security robot, Avatar III.

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Cromwell Schubarth

Senior Technology Reporter- Silicon Valley Business Journal

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RoboteX, a robot developer that grew out of Stanford's labs and is backed by Peter Thiel and other PayPal alumni, said on Friday it has raised $2 million of a $5 million funding round.
The Palo Alto company was founded in 2007 by Nathan Gettings and previously raised nearly $9 million.
In addition to Thiel, the company listed Palantir Technologies CEO Alexander Karp as a director on Friday's filing with the Securities and Exchange Commission.
Its latest robot, Avatar III, was introduced in the fall and is aimed at the security market. It can be controlled through standard Wi-Fi networks from hundreds of miles away and can be integrated into existing security systems.
The company didn't name its backers in the new round but said there are four of them.
Click here to read the SEC filing by RoboteX.
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Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.

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Palo Alto, Startups, Venture capital