The US-based company, the manufacturer of floor cleaning robot the Roomba, will invest up to $2m at a time and will fund up to 10 startups each year.
US-based consumer robotics manufacturer iRobot has launched a corporate venturing arm, technology finance news source TechCrunch reported yesterday.
The unit has not yet been given a name and iRobot is currently seeking an experienced investor based on the west coast of the US to head up the fund.
The company has however made its first venture capital investment, contributing to a $3.3m seed round closed by US-based 3D reconstruction software developer Paracosm in November.
Investments by the fund will…
