SoftBank invests 200 million in construction startup Gravis Robotics

SoftBank Group's $200 million investment in Swiss startup Gravis Robotics marks another major robotics bet as founder Masayoshi Son seeks to make the company a pivotal player in the global AI race. SoftBank Group has invested $200 million in Gravis Robotics, a Swiss startup that makes autonomous software for construction machinery. Zurich-based Gravis announced the Series A investment in a statement on Monday but didn't share a valuation. It was reported in July that SoftBank was considering an acquisition of Gravis that might be completed in several stages, which includes injecting fresh capital over time. The deal marks another splashy investment into robotics from SoftBank, whose founder, Masayoshi Son, is trying to make his firm a pivotal player in the global artificial intelligence race. The Japanese investor, which by October is set to own a 13% stake in OpenAI, has backed a range of robotics businesses, including with the acquisition of ABB's industrial unit last year.