Patrol and solar photovoltaic (PV) panel cleaning robot developer TetraBOT (天创机器人), a firm based in Nanjing, capital of eastern China’s Jiangsu Province, recently closed a Series B+ round of funding for an undisclosed amount, Lieyunwang, a tech media outlet, reported today.
This round, backed by existing shareholders Addor Capital and Co-Win Ventures, came almost one and a half years after the previous Series B round in August 2021, when TetraBOT raised close to 100 million yuan (US$14.42 million) from lead investors Siasun Robot Investment and Skytrace Capital. RayVC also participated in the round then.
Tetrabot is already seeking a Series C round, the report said.
Proceeds from the latest Series B+ round will mainly be used to upgrade and iterate product lines that are adopted for energy equipment maintenance in complex situations.
The company aims to add features such as better protection and anti-explosion mechanisms to its robots to deal with applications in new energy, oil and gas, and coal mine spaces.
It also looks to develop core capabilities such as fault detection and diagnostics algorithms.
In addition, part of the funds will go to improving production capacity and recruiting high-caliber, skilled talent.
TetraBOT, founded in 2011, is a high-tech company that focuses on the design, development, manufacturing and sale of inspection and PV panel cleaning robots.
It has deployed its products to electricity, oil and gas, railway, water works, mining, husbandry, port, metallurgical industries, with aspirations to provide them with reliable, economical integrated solutions for smart patrol and inspection.
TetraBOT possesses strengths in technologies such as Extended Kalman Filter (EKF) algorithms, simultaneous localization and mapping (SLAM), multi-degree-of-freedom joint design, fault detection and diagnostics algorithms based on Convolutional Neural Networks, among others.