BOTS, Inc. Forms SPAC (Special Purpose Acquisition Company) to Acquire Companies in Robotics Space

JACKSONVILLE, FL, Jan. 28, 2021 (GLOBE NEWSWIRE) --   -- BOTS, Inc. (OTC MARKET:BTZI), an emerging innovator of products, technologies, and services for the rapidly growing cyber-security, digital robotics automation and AI for manufacturing industry, announced today the formation of Robot Acquisition Corporation (RoboSPAC), a SPAC formed to raise the necessary capital to acquire an advanced, profitable, robotics enterprise.  The Company revised its business plan to add “SPAC Sponsor” to its mergers and acquisitions strategies.

The global robotics technology market size was valued at $62.75 billion in 2019 and is projected to reach $189.36 billion by 2027, growing at a CAGR of 13.5% from 2020 to 2027. However, we believe that robotics will quickly overtake every aspect of life making this projection of 13.5% extremely modest.

The Five Major Types of Robots

Mechanical bots come in all shapes and sizes to efficiently carry out the task for which they were designed. From the 0.2 millimeter-long “RoboBee” to the 200 meter-long robotic shipping vessel “Vindskip,” robots are emerging to carry out tasks that humans simply can’t. Generally, there are five types of robots:

Pre-Programmed Robots

Pre-programmed robots operate in a controlled environment where they do simple, monotonous tasks. An example of a pre-programmed robot would be a mechanical arm on an automotive assembly line. The arm serves one function — to weld a door on, to insert a certain part into the engine, etc. — and its job is to perform that task longer, faster and more efficiently than a human.

Humanoid Robots

Humanoid robots are robots that look like and/or mimic human behavior. These robots usually perform human-like activities (like running, jumping and carrying objects), and are sometimes designed to look like us, even having human faces and expressions. Two of the most prominent examples of humanoid robots are Hanson Robotics’ Sophia and Boston Dynamics’ Atlas.

Autonomous Robots

Autonomous robots operate independently of human operators. These robots are usually designed to carry out tasks in open environments that do not require human supervision. An example of an autonomous robot would be the Roomba vacuum cleaner, which uses sensors to roam throughout a home freely.  

Teleoperated Robots

Teleoperated robots are mechanical bots controlled by humans. These robots usually work in extreme geographical conditions, weather, circumstances, etc. Examples of teleoperated robots are the human-controlled submarines used to fix underwater pipe leaks during the BP oil spill or  on a battlefield.

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Augmenting Robots

Augmenting robots either enhance current human capabilities or replace the capabilities which a human may have lost. Some examples of augmenting robots are robotic prosthetic limbs or exoskeletons used to lift hefty weights.

The company plans to raise $100,000,000 from investors utilizing our newly formed SPAC for which Bots, Inc., as its sponsor, will retain up to a 20% interest. We invite any cutting edge robotics business interested in being acquired by a SPAC to contact the Company. While we are primarily interested in Humanoid Robotics as our primary target, we will also consider businesses profiting from any aspect of robotics. The Company registered RoboSPAC.com domain, which will serve as the SPAC’s website. 

“Special purpose acquisition companies, or ‘blank-check companies,’ are formed with the purpose of using the proceeds from their initial public offerings to acquire one or more businesses, to be identified after the IPO, usually referred to as ‘targets,’” commented Paul Rosenberg, Company’s CEO.

ABOUT BOTS, INC.

Headquartered in San Juan, Puerto Rico, BOTS, Inc., a publicly traded OTC Markets innovator trading under the symbol (BTZI) - is a diversified company developing and servicing blockchain and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology, Cyber Security and Robotic Process Automation (RPA).

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Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.

Contact: 

Paul Rosenberg, CEO