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INDUSTRIAL | Machinery & Equipment / Robotics
kindred.ai

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Founded Year

2014

Stage

Acquired | Acquired

Total Raised

$44M

Valuation

$0000 

About Kindred Systems

Kindred Systems builds machines with human-like intelligence. Since its founding, Kindred has been designing and engineering robotic systems that solve real-world problems. Kindred is developing minds for robots – software that provides machines with goals and the means to learn to better achieve them. Kindred's first commercial product SORT leverages advances in recognizing and moving objects in unstructured environments.On November 2nd, 2020, Kindred Systems was acquired by Ocado at a valuation of $262M.

Kindred Systems Headquarter Location

169 Stillman St

San Francisco, California, 94107,

United States

844-344-2088

Latest Kindred Systems News

Malta – Kindred completes Relax deal

Oct 4, 2021

By Phil - 4 October 2021 kindred Group has now completed the acquisition of Relax Gaming, having announced on July 2 2021 that it had entered into an agreement to acquire the remaining 66.6 per cent of the outstanding shares in Relax Gaming. Relax Gaming is a market leading B2B iGaming software supplier that designs and develops online casino games, supported by an open distribution platform for third party aggregation as well as proprietary poker and bingo products. Relax Gaming was founded in 2010 and has today c. 240 full-time employees with four main hubs in Malta, Estonia, Sweden and Serbia. Kindred has been invested in Relax Gaming since 2013 and was prior to the transaction the largest owner with 33.4 per cent of the outstanding shares. Kindred said: “The acquisition accelerates Kindred’s strategy to increase its focus on product and customer experience by strengthening Kindred’s product control and product differentiation capabilities. The acquisition is expected to generate annual run-rate synergies of EUR 8 million within the next three years for the Group, driven especially by lower investment needs and reduced cost of sales. In order to secure continued integrity of Relax Gaming’s B2B customers, Kindred’s intention is to keep Relax Gaming as an independent entity within the Group with a separate management team and Board of Directors. Patrik Österåker, the co-founder of Relax Gaming, will remain as the Chairman of the Board. Kindred’s ambition is to continue to invest in Relax Gaming to cement its position as a leading B2B iGaming supplier by further strengthening Relax Gaming’s product offering and by broadening their B2B customer base.” “In conjunction with the completion of the transaction, all existing employee share option programmes in Relax Gaming have been exercised, and Relax Gaming’s management, who is committed to the future success of the company, retains an ownership of seven per cent of the total fully diluted shares in the company. Kindred’s ownership in Relax Gaming after the transaction is 93 per cent of the total fully diluted shares.” The transaction values Relax Gaming at up to €320m on a cash and debt free basis (Enterprise value) and a total value of the outstanding shares of approximately €295m (Equity value). The initial consideration for the remaining outstanding share of approximately €80m (on a cash and debt free basis) has been settled in cash. In addition to the initial consideration, the maximum earn-out payments amount to €113m and may become payable in 2022 and 2023, subject to Relax Gaming achieving certain earnings thresholds. Share via:

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Expert Collections containing Kindred Systems

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Kindred Systems is included in 6 Expert Collections, including Smart Money VCs (2017-2019).

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

S

Supply Chain & Logistics Tech

3,710 items

Companies offering technology-driven solutions that serve the supply chain & logistics space (e.g. shipping, inventory mgmt, last mile, trucking).

R

Robotics

1,636 items

This collection includes startups developing autonomous ground robots, unmanned aerial vehicles, robotic arms, and underwater drones, among other robotic systems. This collection also includes companies developing operating systems and vision modules for robots.

A

Advanced Manufacturing

1,074 items

A

AI 100 2018

99 items

I

Internet of Things ( IoT )

3,149 items

Kindred Systems Patents

Kindred Systems has filed 41 patents.

The 3 most popular patent topics include:

  • Robotics
  • Robot kinematics
  • Robotic manipulators
patents chart

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Grant Date

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Related Topics

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12/6/2017

8/24/2021

Machine learning, Diagrams, Robot kinematics, Robots, Robotics

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12/6/2017

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8/24/2021

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Related Topics

Machine learning, Diagrams, Robot kinematics, Robots, Robotics

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Status

Grant

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Kindred Systems Web Traffic

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