COMBE ROBOTICS

What actually happened

The strategic investor was the difficult part. A machinery manufacturer on the cap table can foreclose future acquirers, so the terms had to be negotiated to keep the exit path open — no right of first refusal, no exclusivity on the distribution agreement. That negotiation is the reason this deal is presentable rather than merely closed.

What Deux Rives did

• Negotiated strategic terms to protect the exit path.
• Introduced the lead fund and managed competitive tension.
• Separated the commercial agreement from the equity terms.
• Coordinated technical diligence across two continents.