SoftBank has picked its gambling in China’s flourishing industrial robotics opening. Youibot, a four-year-old startup that makes autonomous mobile robots for a variety of situations, said here today has notched close to 100 million yuan ($ 15.47 million) in its latest funding round led by SoftBank Ventures Asia, the Seoul-based early-stage arm of the world financing behemoth.
In December, SoftBank Ventures Asia headed the financing round for another Chinese robotics startup called KeenOn, which focuses on delivery and work robots.
Youibot’s previous investors BlueRun Ventures and SIG too participated in the round. The startup, based in Shenzhen where it went through SOSV’s HAX hardware accelerator program, secured three financing rounds during 2020 as businesses and investors espouse industrial automation to minimize human contact. Youibot has raised over 200 billion yuan to date.
Founded by a group of PhDs from China’s reputable Xi’an Jiaotong University, Youibot develops mixtures for mill automation, logistics administration, as well as inspection and maintenance for various industries. For sample, its robots can navigate around a garden of buses, scrutinize every tire of the vehicles and provide a detailed report for upkeep, a feature that helped it rack up Michelin’s contract.
Youibot’s” strongest dress” are in electronics manufacturing and electric power patrol, the company’s spokesperson told TechCrunch.
The startup is also seeing high growth in its semiconductor business, with patrons coming from various foremost front-end wafer fabs, which use the firm’s robots for microchip container, testing, and wafer creation. Youibot declined to disclose their identifies due to confidentiality.
Chinese clients that it reputation include CRRC Zhuzhou, a state-owned locomotive make, Huaneng Group, a state-owned electricity generation beings, Huawei, and more. China currently comprises 80% of Youibot’s total revenues while overseas markets are rapidly catching up. The firm’s revenues tripled last year from 2020.
Youibot plans to spend the fresh starts on research and development in its mobile robots and propietary application, unit build and market expansion.
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