August 14, 2013      

SILICON VALLEY BUSINESS JOURNAL: Neato Robotics, a startup that competes with Roomba for automatic vacuum cleaners, disclosed on Tuesday that it raised $14 million in new funding.

The Newark company led by Chairman and CEO Giacomo Marini didn’t say on the Securities and Exchange Commission filing who the investors are in the round. It said there were two of them involved.


Marini was the only executive listed on the filing. Marini, head of early-stage venture firm Noventi, co-founded Logitech with another person who is listed on the filing as a director: Pierluigi Zappacosta.

Neato previously raised $12.2 million in funding in 2012 from Noventi and Vorwerk Direct Selling Ventures.

Other board members on the filing are Stanford Professor Chuck Holloway, Dick Meurer and Thomas Rodemann.

Neato says that its cleaning robots are better than Roomba because they automatically map a room before starting and are laser-guided to sweep floors in overlapping lines.

Read the SEC filing about Neato Robotics’ new funding.