bolttech raises $196 million
bolttech said it has raised $196 million in an expanded Series B round led by Tokio Marine. MetLife, through its subsidiary MetLife Next Gen Ventures, also participated in round. This sum includes $50 million that the Japanese insurer had invested in the same round in October 2022.
The funding round, which was joined by additional investors, values bolttech at $1.6 billion.
bolttech is not profitable, but according to CEO Rob Schimek, it has a clear path to profitability, and the latest funding will help it reach that goal. “We have enough cash on our balance sheet to break even without raising more capital,” Schimek shared with the WSJ.