Cobalt cofounders + robot.JPG

  • The security-robotics company Cobalt raised $13 million in a Series A round of financing this year, despite putting together a pitch deck the night before meeting with venture capitalists.
  • Cobalt’s CEO, Travis Deyle, 35, said the company wowed investors because it was able to deliver on two goals.
  • Deyle set out to have a product on the market within the first year and land a paying customer before building anything. 

Raising venture capital for a startup is no cakewalk. There are high stakes, probing questions from investors, and an unspoken pressure from your employees to return to the office with a term sheet.

So it’s noteworthy that Travis Deyle and Erik Schluntz this year raised $13 million from investors for their security-robotics company, Cobalt, despite putting little time into preparing their pitch.

“Ours happened so quickly,” said Deyle, 35. “That sounds cheesy, but we expected it to be a giant slog. The bar for a Series A is substantial.” …

Sponsored:  If you enjoyed reading this story so far, why don’t you join Business Insider PRIME? Business Insider provides visitors from MSN with a special offer.  Simply click here to claim your deal and get access to all exclusive Business Insider PRIME benefits.

SEE ALSO: Tech founders take their self-driving food-delivery robots out of San Francisco to focus on cities where they feel more welcome

Join the conversation about this story »

NOW WATCH: We interviewed Pepper – the humanoid robot