YouiBot, a Chinese industrial mobile robot maker, announced Tuesday that it has received more than RMB 300 million ($47 million) in two additional funding rounds of Series B, led by venture capital firm FG Venture and private equity company Xicheng Jinrui respectively.
Why it matters: The investment highlights the funding trend for industrial robotics manufacturers, a crucial ingredient in smart manufacturing, which is regarded as an essential part of China’s initiative to become a global leader in core technologies by 2025.
Details: The deals are follow-up investments for a $15 million Series B the company received in May this year. Other investors of the current funds are IDG, and returning investors, including Pine Venture, SIG, BlueRun Venture, SoftBank, and SOSV’s HAX Accelerator.
- YouiBot said the proceeds will be used for research and development, team building, and market…