This Research Note examines what’s behind the acquisition of Cobalt Robotics by Dean Drako, announced on 4th June 2024. We review the development of Cobalt, the strategic rationale of the acquisition, and the accelerating trend of robotic technologies as a mainstream security solution. Cobalt Robotics Acquisition Founded in 2016 in Fremont, California Cobalt Robotics develops roving security robots for use in commercial buildings. The startup closed a $35 million Series B financing round in June 2019, which brings total disclosed funding to $53.3 million to date, over 3 rounds from 12 investors. The strategic rationale of the acquisition is to accelerate the use of AI technology across enterprise security applications. As a reflection of the company’s AI leadership across multiple domains, the company has been renamed from Cobalt Robotics to Cobalt AI. To meet the growing needs of its corporate customers, Cobalt has developed AI-based algorithms for alarm filtering, remote monitoring, sensing, and other autonomous […]