Bright Machines to go public via SPAC

Bright Machines, the developer of a platform that uses AI and robotics to automate manufacturing tasks, has agreed to go public through SCVX, a blank-check company, at a valuation of $1.6 billion. The transaction includes $230 million of cash proceeds and a $205 million PIPE from investors like Fidelity Management & Research and a subsidiary of SoftBank. San Francisco-based Bright Machines is also backed by BMW i Ventures, Eclipse Ventures and Lux Capital, which will roll all of their equity into the combined entity.

View details

News & Analysis

Related content