🏆 Deal of the Week · CW 35/2024
Swiss-Mile raised USD 20 million in a Seed round in 2024, at a post-money valuation of USD 78 million. The round was backed by a syndicate of venture and strategic investors spanning China, the United States, and Europe. The deal was recognised as Venionaire DealMatrix Deal of the Week for KW 35/2024.
Swiss-Mile — key deal facts
| Company | Swiss-Mile |
| Founded | 2023 |
| Headquarters | Zurich, Switzerland |
| Amount raised | USD 20M |
| Valuation | USD 78M |
| Round | Seed |
| Investors | Linear Capital, HongShan, Bezos Expeditions, Armada Investment AG, Amazon Industrial Innovation Fund |
| Sectors | Artificial Intelligence (AI), Information Technology, Manufacturing, Robotics |
Who invested in Swiss-Mile?
The Seed round was funded by Linear Capital, HongShan, Bezos Expeditions, Armada Investment AG, and the Amazon Industrial Innovation Fund. The presence of both Bezos Expeditions and the Amazon Industrial Innovation Fund signals strong strategic interest from the Amazon ecosystem in commercialising autonomous last-mile delivery robotics. The combination of Asian venture capital via Linear Capital and HongShan alongside Western strategic capital reflects the global competition for leadership in embodied AI and logistics automation.
What does Swiss-Mile do?
Swiss-Mile, now operating under the brand RIVR, designs and manufactures wheeled-legged quadruped robots powered by embodied AI for last-mile logistics applications. Its primary product is a multimodal robot capable of carrying payloads up to 60 kg, switching between driving and walking modes to traverse urban obstacles such as curbs and stairs. The company was founded in April 2023 by Marko Bjelonic, Giorgio Valsecchi, Lorenz Wellhausen, Alexander Reske, and Marco Hutter as a spinoff of ETH Zurich, drawing on six years of academic research integrating AI into legged robotics. Swiss-Mile is headquartered in Zurich, Switzerland.
Swiss-Mile valuation & multiples
No multiples analysis was provided for this deal. Benchmarking a USD 78 million valuation against a pre-revenue or early-revenue Seed-stage robotics company is not meaningful without verified revenue or EBITDA figures. Investors seeking sector context can explore relevant EV/Sales and EV/EBITDA reference ranges on the Venionaire DealMatrix Robotics and Artificial Intelligence sector multiples pages.
Explore the benchmarks: Seed Manufacturing Robotics.
Frequently asked questions
How much did Swiss-Mile raise in its Seed?
Swiss-Mile raised USD 20 million in a Seed round in 2024.
What is Swiss-Mile's valuation?
Swiss-Mile's post-money valuation at the time of its Seed round was USD 78 million.
Who invested in Swiss-Mile?
The Seed round was backed by Linear Capital, HongShan, Bezos Expeditions, Armada Investment AG, and the Amazon Industrial Innovation Fund.
When was Swiss-Mile founded and where is it based?
Swiss-Mile was founded in April 2023 and is headquartered in Zurich, Switzerland.
Source: original announcement — read the full report.