How Cobalt robotics company raised $13 million with almost no prep

Erik Schluntz and Travis Deyle are the cofounders of
Cobalt.
Cobalt

• 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.” …

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