Have you heard of UBTECH? It is a Shenzhen-based company that focuses on home robotics.
However, you may ask: what`s so special about them? It is another big Chinese technology company that produces robots, nothing too disruptive so far. What is striking is the recent funding they announced, namely $820 million from Series C round that was led by Tencent and many other investors. The last financial round follows a $100 million Series B round and $20 million Series C round.
These are impressive sums. UBTECH is using artificial intelligence (AI) to make humanoid robots for consumers and business use. Founded in 2012, UBTECH turned into a global leader on the market. In 2016, they have surpassed 1 billion valuation and become a unicorn start-up company, as they write on their website.
“To bring a robot into every home, and truly integrate intelligent robots into the daily lives of everyone creating a more intelligent way of life. “, as they explained their goals on their website.
Speaking of the newly received investment, UBTECH made clear that Tencent will work closely with them on future product development.
“Tencent has already worked with UBTECH, launching the humanoid robot Qrobot Alpha last December – the first robot to feature the Tencent Cloud Xiaowei service; and the personalized educational robot Alpha Ebot in February which integrates the high-quality, comprehensive, and open AI services and interactivity of the Tencent Dingdang assistant .”, according to the company.
What is the main question, though, is how the company will benefit from the money. UBTECH founder and Chief Executive Officer explained in a press release announcing the funding that the money will mainly be used for research and development, market and brand expansion, as well as talent recruitment. When it comes to talent recruitment, UBTECH wrote that they will continue to hire employees from around the world. Something they have done a lot so far that may have contributed to their success.
It is interesting to see whether the new funding will lead to even more disruption and innovation beyond our imagination. Would there be a robot in every home soon? What do you think? Share your thoughts in the comments.
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