April 6, 2021, Cottonwood Technology Fund, a top-performing early stage hard science focused venture capital fund, congratulates one of its portfolio companies, Sarcos Robotics (Sarcos), a global leader in robotics, on its announced merger with Rotor Acquisition Corp. Rotor Acquisition Corp, a publicly traded special purpose acquisition company (SPAC), has agreed to acquire Sarcos at $1.3 billion value and has arranged a PIPE transaction in conjunction with the closing of $220 million. Upon closing of the transactions, estimated in approximately three months, the combined company’s common stock is expected to trade on NASDAQ under the ticker symbol “STRC”. In addition, the transaction includes potential earn-out of up to an additional $281 million based on the future stock performance of the combined company. We are delighted to see Sarcos receive this endorsement and the additional resources it needs to execute on its plans to be the category leader with robots that augment humans with enhanced productivity and safety in performing dangerous and strenuous tasks.
Sarcos Robotics is a Fund II portfolio company of Cottonwood Technology Fund. According to Preqin’s latest reporting both Fund I and Fund II of Cottonwood Technology Fund are top-decile performing.
Official Press Release
About Cottonwood Technology Fund
Cottonwood Technology Fund is, according to Preqin’s latest reporting, a top-decile performing early-stage venture capital fund. Its investment focus is on hard science and deeptech, providing (pre-)seed and early-stage funding to IP-driven companies. Cottonwood makes impact investments in Key Enabling Technologies, like Photonics / Optics, Micro- & Nanoelectronics, Advanced Materials & Nanotechnology, Medical Technology, Cleantech / Energy Transition, Advanced Manufacturing & Robotics. Cottonwood recently launched its third fund focused on business originating across Southwestern America and Northwestern Europe, including numerous national laboratories, major research universities and research centers. Current and prior investments include Skorpios Technologies, FibeRio (acquired by Clarcor), xF Technologies, Eurekite, Sarcos Robotics (NASDAQ STRC), BayoTech, Respira Therapeutics, Infinitum Electric, Trilumina (acquired by Lumentum), SoundEnergy, OPNT and Exagen (NASDAQ XGN). For more information, please visit www.cottonwood.vc.