NEURA Robotics raises EUR 120 million Series B led by Lingotto as it reports a EUR 1 billion order book

NEURA Robotics, the Metzingen-based developer of cognitive cobots and the 4NE1 humanoid, announced on 15 January 2025 that it had closed a EUR 120 million Series B financing round. The company said Lingotto Investment Management led the round, which preceded by 17 months a far larger Series C.

According to NEURA's release, the other participants were BlueCrest Capital Management, Volvo Cars Tech Fund, InterAlpen Partners, Vsquared Ventures, HV Capital, Delta Electronics, C4 Ventures, the Baden-Wuerttemberg state development bank L-Bank and founder David Reger, alongside unnamed others. NEURA did not disclose a valuation, the split between equity and other instruments, or the size of individual tickets. The amount was stated in euros only; MEKAWIRE has not converted it.

NEURA gave three operating figures to justify the raise. It said its headcount had doubled during the previous year to more than 300 people, that revenue had grown tenfold over the same period, and that its order book stood at EUR 1 billion. The company did not publish revenue in absolute terms, and it did not say how much of the order book was binding purchase orders as opposed to framework agreements or letters of intent.

On the use of proceeds, the release was brief. NEURA said the capital would pay for further research and development, support the launch of new products and build out Neuraverse, which it describes as an operating system for cognitive robotics combined with a marketplace for robot skills. The release did not allocate money to individual products. NEURA's product pages list the MAiRA cognitive cobot, the LARA and MiPA platforms, the MAV autonomous transport vehicle and the 4NE1 humanoid as the lines the company sells.

NEURA's current product pages give the clearest picture of what the money is building. MAiRA comes in three seven-axis versions, with payloads of 15 to 18 kg (S), 12 to 14 kg (M) and 9 to 11 kg (L) and reaches of 1,100 mm to 1,600 mm; NEURA says it is built in-house in Germany and certified to PL e and SIL 3 for touchless detection of people within three metres. The MAV range covers 500 kg and 1,500 kg payload versions running at 1.5 m/s, with ROS 2 navigation and VDA 5050 compatibility as options. The 4NE1 humanoid is listed at 180 cm and 80 kg with a walking speed of 5 km/h, and a smaller 4NE1 Mini was targeted for spring 2026.

The Series B followed two financings that NEURA disclosed in 2023. On 19 July 2023 the company announced what its German release called its second financing round, EUR 50 million (stated as USD 55 million in the English version), led by Lingotto, then described as owned by Exor N.V., together with Vsquared Ventures, Primepulse and HV Capital, with L-Bank and Kreissparkasse Reutlingen providing a bridge loan. On 10 October 2023 it added EUR 15 million from InterAlpen Partners, which NEURA said was its first US private equity investor. Lingotto therefore led or co-led both of NEURA's largest rounds before 2026.

The order book is the number that moved fastest. In July 2023 NEURA's German release cited an order volume of EUR 400 million; by January 2025 the company put it at EUR 1 billion, 2.5 times the earlier figure on its own reporting. The July 2023 release also noted that Kawasaki Heavy Industries had shown a product range marketed as powered by NEURA, which helps explain how a five-year-old company could claim orders of that size.

In a global comparison the round was mid-sized. Figure AI disclosed a USD 675 million Series B in February 2024, and Apptronik announced a USD 350 million Series A four weeks after NEURA's round, both in US dollars. In Europe, Agile Robots of Munich had raised a USD 220 million Series C in 2021, and London's Humanoid would later raise USD 152 million in July 2026. NEURA's EUR 120 million placed it ahead of most European peers but well behind the American humanoid leaders.

For European industry the significance was the investor mix. A state development bank, a Swedish carmaker's venture fund, a Taiwanese electronics supplier and an Exor-linked asset manager all backed a Swabian hardware company that makes its own arms, sensors and software. NEURA's pitch, repeated in the release, is that it is the only German company building humanoids and the first to ship a commercially available cognitive cobot. Both claims are NEURA's own and have not been independently tested.

The open questions in January 2025 were capital intensity and conversion. A EUR 1 billion order book against a company of 300 people implies a delivery ramp that requires factories, suppliers and service staff that EUR 120 million alone cannot fund. NEURA addressed that gap on 10 June 2026, when it announced a Series C of up to USD 1.4 billion with Tether, Qualcomm Technologies, Amazon, NVIDIA, Bosch, Schaeffler, the European Investment Bank, Lingotto Horizon and InterAlpen Partners among the investors; that release named no lead and cited an order book and deployment pipeline of more than USD 1 billion.