TLT has advised Reach Robotics, the robotics, augmented reality and gaming company, to raise $7.5M in Series A funding for its next phase of growth and new hires.
The round was co-led by Korea Investment Partners (KiP) and IGlobe, a previous investor from the Seed round. NCSOFT and Kin Yat also contributed to the round as a new investor, as well as London Venture Partners, Passion Capital, Qualcomm Ventures and Hardware Club, who had already supported Reach Robotics during the Seed round.
Reach Robotics was founded in 2013 by Silas Adekunle (CEO), Chris Beck (CTO) and John Rees (COO) to develop the next generation robotics platform that incorporates state of the art robotic engineering, mashed-up with mobile gaming and augmented reality. This fusion has led the team to create MekaMon, a gaming robot ecosystem that uses AR to teach people to code.
The TLT team was led by Jon Gill, partner and head of private equity, supported by corporate legal assistants Dan Akers and Nick Rains.
Jon Gill said: "Our High Growth team has supported Reach Robotics since start-up and we were delighted to be able to support the negotiation and execution of this very significant financing round. Reach Robotics is a great example of the cutting edge technology that is being developed in the Bristol and Bath cluster and achieving global recognition and growth, particularly in the robotics sector. We wish Silas and his team every success as they scale the business further and look forward to supporting them on this journey."
Silas Adekunle, CEO of Reach Robotics, commented: “"TLT has been an indispensable source of support for Reach Robotics' growth. They handled our Series A fund raising with professional care and helped to close the deal within budget. We are very much looking forward to working with them again in the near future."