Neura Robotics, a German startup that manufactures robots that can “see, hear and touch,” has raised $120 million, which the company said it will use to improve the machines’ ability to perceive and process information. Lingotto Investment Management, an investment arm of Italy’s Agnelli family, led the round, and other investors included Volvo Cars Tech Fund, BlueCrest Capital Management and InterAlpen Partners, Neura Robotics said in a statement late Wednesday. Neura Robotics is expanding, doubling its employees to 300 people in the last year, as it works to position itself as a leader in an industry dominated by Asian and American companies, Chief Executive Officer David Reger said in an interview. Robots that can move heavy objects, automate repetitive or dangerous tasks or replace humans in service jobs are drawing investors with the promise of saving on labor costs and shortages. “We closed the round in less than two months,” Reger said. “This shows that the market has enough confidence. You can’t raise in Europe just based on vision, you have to show meat on the bones.” Reger says the company has almost $1 billion in orders and its customers include the robotics unit of Japanese heavy-machinery manufacturer Kawasaki Heavy Industries Ltd. and Omron Corp., a Japanese electronics company.

Full report : Germany-based Neura Robotics, which is building cognitive, humanoid robots for logistics and other sectors, raised a €120M Series B led by Lingotto Investment.