A slightly unusual move in European VC land: France-based 360 Capital Partners has reached an agreement with Orkos Capital to manage Robolution Capital, a €80 million fund dedicated to robotics, artificial intelligence and 'Internet of Things'.
Late last year, 360 Capital Partners kickstarted a new €35 million seed fund for European startups. That was its sixth fund to date, making Robolution the seventh for the Paris-based investment firm.
Robolution Capital, started in 2014, has already invested in several companies, perhaps most famously in NAVYA, a pioneer in self-driving shuttles.
360 Capital Partners, which recently backed French digital cash register startup Tiller, will rely on the expertise of the Robolution Capital founders - who are joining as partners - to invest in promising AI, robotics and IoT tech startups across Europe.
Its team has now reached 20 persons across 4 locations in Europe (Paris, Milan, London and Berlin), with total funds under management now surpassing €300 million.
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