TechTaffy

tech:

taffy

Genesis Robotics receives controlling investment from Koch

By TechTaffy Desk

Genesis Robotics, a subsidiary of Genesis Advanced Technology (GAT), has received a controlling investment from Koch Industries.

Under the companies’ agreement, they will form a new company — Genesis Robotics and Motion Technologies (Genesis Robotics) — to commercialize electric motor and actuation technologies for robotics designs and platforms.

Rothschild served as financial advisor and Sullivan & Cromwell acted as legal counsel to Genesis Advanced Technology. Jones Day acted as legal counsel to KCTG.

Genesis Advanced Technology, based in Langley, British Columbia, Canada, was founded in 2009 by Michael Gibney and James Klassen.

[Image courtesy: Genesis Robotics]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.