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Chinese robotics company UBTECH gets $820 million in funding

Shenzhen-based house robotics firm UBTECH introduced this week that it has closed a large $820 million Sequence C. The spherical, led by Tencent and an entire slew of different traders, follows a $100 million Sequence B and $20 million Sequence C.

The bipedal robotics maker definitely isn’t a family title right here within the States — although the corporate’s taken just a few child steps over right here, together with a walking Stormtrooper robot launched alongside The Final Jedi. It additionally debuted a “robotic butler” with a pill face again at CES in January that appeared extra proof of idea than transport product — although UBTECH has promised a broad 2019 launch date.

CEO James Zhou has promised the corporate will use this large backing to speed up its imaginative and prescient of bringing robots into the house.

“As know-how evolves to incorporate extra voice and contact capabilities, folks want new units that talk and work together extra naturally and intuitively at house, at college and at work,” he stated in a launch tied to the announcement. “Whereas traits in robots and robotics are creating, no firm has but stepped ahead with the assets, imaginative and prescient and merchandise ecosystem to remodel robotic fantasy and fiction into robotic actuality. UBTECH is bringing this actuality to life by increasing the chances for innovation.”

The corporate says the funding will go into R&D, hires and increasing its world footprint. UBTECH is one among plenty of firms pushing house robotics past the Roomba, together with a rumored upcoming gadget from Amazon. The know-how has been a troublesome nut to crack within the previous many years, however an $820 million funding definitely couldn’t damage. 

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