By Tim Ryan
SVT Robotics made national headlines with the completion of their $25M Series A funding. This will likely be the biggest startup story in Hampton Roads in 2021. The round was led by Tiger Global Management, a venture firm with early-stage investments in companies such as Facebook, LinkedIn, Spotify, Coinbase, Stripe, Square, Instacart, and now SVT Robotics. Congratulations to A.K., Mike, and the entire SVT Robotics team!!!
Here are a few links to the various publications that reported on the story.
Why is this big news and why should this be celebrated?
SVT Robotics received funding from global venture firms outside of the region. Hampton Roads is now on the map for other VC firms to explore for future funding opportunities. The lack of funding or follow-on funding is a common frustration from founders in the area, this is the first step to change the trajectory.
This also means more jobs in the area. SVT Robotics has committed to hiring locally, first. If you or someone you know is looking for career opportunities, have them visit the SVT Robotics career page. Even if SVT Robotics isn’t able to hire locally, it will help our area better understand what areas need to be focused on when training our future workforce.
Here’s our conversation with co-founder A.K. Schultz on episode #58 of Fervent Four Show.
The momentum is where it needs to be to push SVT Robotics and this area forward. Now is the time to support them and help them grow so they can help our area grow.
What do you think? I’d love to hear your thoughts.