Service robot developer CloudMinds (达闼机器人) has bagged over 1 billion yuan (US$139 million) in a Series C round of financing.
This round roped in investors including KCI Group, Shanghai Guosheng Group and Watere Capital.
Founded in 2015, CloudMinds has to date completed five rounds of funding, with its Series A, B and B+ rounds raking in about or more than US$100 million each.
Existing shareholders include SoftBank China, Venustech, Shenzhen Capital Group, ZGC Group, Gemdale Group, and Foxconn.
CloudMinds is seeking to list on Hong Kong Stock Exchange after it withdrew its bid to file for an IPO on a US stock exchange.
The Shanghai-based startup is a pioneer in what it calls “cloud-driven robotics,” meaning that the robots are controlled via signals sent through 5G networks from a remote cloud server.
Drawing on this preposition, the company had filed and obtained over 1,600 related patents as of December 2022, topping the world in the ranking of patents correlated with cloud-driven robotics.
CloudMinds also looks to tap into the frenzy over humanoid robotics, with CloudGinger, its human-shaped but non-bipedal model, now being deployed to complete everyday tasks like delivery, patrol, cleaning and vending across an array of scenarios such as hotel, school, retail and industrial park.