May 30, 2018 - Economy

Scoop: Manufacturing startup Auto raises $200 million

Auto, a stealthy manufacturing tech startup led by former Autodesk co-CEO Amar Hanspal, has raised around $200 million in funding, Axios has learned from a source close to the company.

Quiet growth: The source adds that Auto was spun out of Flex around 10 months ago, and already has around 400 employees and "tens of millions of dollars in recognized revenue."

  • Flex is a minority shareholder, while other backers include Eclipse Ventures (led by ex-Flex exec Lior Susan).
  • Directors include Susan, Flex CEO Michael McNamara, former Autodesk CEO Carl Bass and Seagate exec chairman Steve Luczo.
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