Deals | Cobot Scores ¥102 M Series B to Get Industrial Robots More “Human”
Summary
Cobot (), a Chinese intelligent robot system provider, has just closed a \xa5102 million series B funding round led by Lan Fund and GGV Capital, with participation from its previous investor Matrix Partners China.The money will be mainly used for marketing and bringing its robot systems to more industries including healthcare and new retail.Cobot nabbed a \xa55 million angel round from Empower Investment as soon as it was founded in May 2016. This March, Cobot completed its series A funding round with \xa540 million investment from Matrix Partners China. The customers wont have to worry too much about the cost and Cobot itself can take a larger slice of the market.Cobot has recorded a sales revenue of \xa525 million this year. 50 of them are dedicated to the research and upgrading of its vision and sensory algorithms, while the other 20 focuses on system deployment.Its founder and CEO Liu Miao is a Ph.D. graduated from \xc9cole Polytechnique F\xe9d\xe9rale de Lausanne. On top of that, he is also a designated reviewer for materials submitted to such recognized opinion-sharing platforms as international conferences on robots and magazines.