Following yesterday’s Artificial Lawyer article about Robin AI’s disappointing growth and lay-off plans, it’s now come to light that the UK-based business, which also has a base in New York, is looking for potential buyers and / or emergency investors. This follows reports by CityAM this morning that they have listed themselves on an insolvency website where buyers keep a look-out for opportunities. However, it should be stressed, that this does not mean the company is insolvent. Rather, by sending out the message this way, Robin AI can quickly find new investors and / or buyers.
AL contacted the company today to ask about this and they said: ‘We cannot either confirm nor deny‘, in relation to the insolvency site listing rumours.
As AL noted at the end of the piece yesterday, all of the changes going on at Robin AI suggest a sale would make a lot of sense.
That said, it should also be mentioned that if Robin AI can find additional investment it could indeed stay independent. Likewise, the vision of any new supporters may be that it becomes part of a larger platform. It’s hard to know how fast things will move now.
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Yesterday’s AL article.
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