• Bobacino, a developer of a robotic boba tea bar, has closed its Series A equity crowdfunding round raising USD 2.2+ million from 1,500+ investors. This brings the company’s total funds raised to roughly USD 3.6 million.

• At the time of the campaign launch, Bobacino mentioned its plans to use the funds to complete the development of its beta prototype and deploy the same in public places. The company will use the feedback and other testing results of the beta launch for commercial production of the robotic bar.

<ul><li> Analyst QuickTake: Bobacino first closed the Series A crowdfunding round in October 2021, raising USD 1.4 million, and extended the same in February this year, targeting USD 4 million at a valuation of USD 9 million. Raising equity through crowdfunding is becoming increasingly popular and also successful in the restaurant industry robotics space. Startups that recently closed such campaigns include pizza-making robot developer Piestro (July 2022), kitchen automation company Miso Robotics (November 2021), smoothie-making robotic kiosk developer Blendid ( September 2021), and pasta-making robot developer DaVinci Kitchen (July 2021). Furthermore, Ally Robotics, a developer of smart robotic arms, also launched a crowdfunding campaign in May.</ul>