SoftBank has picked its bet in China’s flourishing industrial robotics dwelling. Youibot, a four-year-vulnerable startup that makes self reliant cell robots for a unfold of scenarios, acknowledged it has notched conclude to 100 million yuan ($15.47 million) in its most modern funding round led by SoftBank Ventures Asia, the Seoul-based early-stage arm of the worldwide investment behemoth.
In December, SoftBank Ventures Asia led the financing round for one other Chinese language robotics startup known as KeenOn, which makes a speciality of initiating and carrier robots.
Youibot’s old merchants BlueRun Ventures and SIG also participated in the round. The startup, based in Shenzhen where it went thru SOSV’s HAX hardware accelerator program, secured three financing rounds for the duration of 2020 as companies and merchants embody industrial automation to diminish human contact. Youibot has raised over 200 million yuan up to now.
Founded by a crew of PhDs from China’s prestigious Xi’an Jiaotong College, Youibot develops alternatives for manufacturing facility automation, logistics management, moreover inspection and upkeep for assorted industries. For instance, its robots can navigate around a yard of buses, take into memoir each tire of the autos and offer a detailed represent for upkeep, a characteristic that helped it rack up Michelin’s contract.
Youibot’s “strongest suits” are in electronics manufacturing and electrical energy patrol, the firm’s spokesperson steered TechCrunch.
The startup will be seeing excessive development in its semiconductor exchange, with customers coming from a number of prominent entrance-finish wafer fabs, which spend the agency’s robots for chip packaging, checking out, and wafer manufacturing. Youibot declined to picture their names attributable to confidentiality.
Chinese language purchasers that it named embody CRRC Zhuzhou, a assert-owned locomotive manufacturer, Huaneng Neighborhood, a assert-owned electrical energy generation huge, Huawei, and more. China currently comprises 80% of Youibot’s whole revenues whereas out of the country markets are without observe catching up. The agency’s revenues tripled remaining year from 2020.
Youibot plans to exhaust the new proceeds on study and trend in its cell robots and propietary utility, crew constructing and market expansion.