Startup Neura Robotics GmbH is reportedly in talks to raise a funding round worth €1 billion, or about $1.2 billion.

Bloomberg today cited sources as saying that the deal could include contributions from crypto giant Tether Limited Inc. The company is the issuer of USDT, the world’s most widely used stablecoin.

Rumors that Tether may back a €1 billion raise for Neura first emerged last November. At the time, sources told the Financial Times that the deal was expected to value the robotics startup at €8 billion to €10 billion. Bloomberg reported today that Neura is poised to receive a significantly lower valuation of €4 billion. Additionally, the publication’s sources stated that the raise could be “followed by additional fund-raising.”

Germany-based Neura develops a line of robots equipped with onboard artificial intelligence software. The company’s two newest systems, the Neural Quadruped Robot and 4NE1, debuted in January. The former robot features a four-legged design optimized for difficult terrain. The 4NE1 Mini, in turn, is a 52-inch-tall humanoid robot that understands natural language instructions. 

Neura’s flagship humanoid robot is a 5.9-foot system called the 4NE1 Mini. It can carry up to 220 pounds and cover about three miles per hour. The company says that the system lends itself to both consumer and industrial applications.

Neura has also developed more than a half-dozen other robots that are optimized for narrower use cases. 

For consumers, the company offers a system called MiPA that is designed to automate repetitive day-to-day tasks. It has a modular chassis that users can customize by attaching various hardware modules. MiPA can be equipped with a backpack, a table, tools and various other components.

Neura competes in the industrial automation market with a line of robotic arms. Usually, programming a robotic arm to perform a new task requires manufacturers to write custom code. Neura’s systems can be configured through a visual interface. It also sells wheeled logistics robots that can carry up to 1.5 tons worth of goods.

The company offers its flagship robot line alongside hardware modules that can be attached to third-party automation systems. One add-on, SenseKit, improves robots’ ability to sense objects in their environments. Another Neura module enables users to teach a robotic arm new skills by manually demonstrating the motions that it should perform.

The fundraising push comes about a year after it closed its last round. Neura raised €120 million from a consortium that included Volvo Cars Tech Fund, German financial institution L-Bank and other large institutional backers. The company disclosed at the time that it had an order book worth €1 billion.

Some of the new capital that Neura is raising may go towards acquisitions. Not long after last year’s €120 million round, the company bought a 300-person industrial automation specialist called ek Robotics GmbH. The deal bought Neura a portfolio of logistics robots optimized for environments such as warehouses. 

Image: Neura Robotics