Published on : May 04, 2018
Industry efforts to commercialize humanoid robots have gathered immense pace in emerging markets, increasingly driven by copious investment in recent funding rounds. In particular, the funding is fueling research and development (R&D) activities related to large-sized robots. Shenzhen-based Ubtech Robotics Inc. has secured around US$820 million in its series C funding round, spearheaded by Tencent Holdings Limited, a Chinese multinational investment holding conglomerate. Other key investors include CreditEase, Green Pine Capital Partners, Haier Group Corp., Telstra Corporation, Minsheng Securities, and Industrial and Commercial Bank of China.
Funding to pave way for Increased Commercialization of Humanoid Robots
Post this funding round, the robotic company is valued at a whopping US$5 billion, considering its inception in 2012. The technology startup offering artificial intelligence-based solutions is intensively engaged in manufacturing and commercializing of robots world over, it claims.
Tencent Holdings already collaborated with Ubtech and they jointly developed educational robot QrobotAlpha, introduced in December last year. Of note, the bot features cloud services by the Chinese conglomerate. Under this funding round, the internet behemoth will assist Ubtech in its humanoid robotic product development. Not only in China, the startup claims to have significant presence in over 40 countries spanning regions North America, Europe, and Southeast Asia.
Tencent Investing to tap into Potential of AI in Robotics and fortify its Position
Ubtech will use the recent funding toward expanding its brand across various geographies and spend a part of this in new talent acquisition. The Shenzhen-based smart humanoid robots maker specializes in consumer-centric humanoid robots having vast applications in the area of entertainment and education.
Tencent through its subsidiaries has in recent years been tapping the large potential of AI technology in emerging markets, thereby using this platform to consolidate its position globally. In earlier years, Tencent has also invested profusely in U.S.-based and Canada-based robot manufacturers.