Sage-Modi (飒智智能), a hybrid mobile robot builder, has raised tens of millions of yuan in a Series A round of financing led by Shunwei Capital, Chinese media reported on February 6.
Shunwei, whose founder includes Xiaomi Group CEO Lei Jun, invested into the Shanghai-based firm from three funds under its management.
Another backer during this round included a state-run venture capital firm registered in Shanghai’s Minhang District, where Sage-Modi is headquartered.
Following this transaction, the startup’s registered capital grew from 6.04 million yuan (US$839,600) to 6.73 million yuan, according to Tianyancha, a data platform documenting business registry changes.
cnrobopedia reported in June 2023 that the firm bagged tens of millions of yuan from a pre-Series A fundraiser, roping in Shenzhen Capital Group and Jolmo.
Since its inception in 2017, Sage-Modi has been committed to the development of compound or hybrid mobile robots, meaning end effectors like robotic arms mounted atop a self-driving chassis.
The company not just designs or manufactures the robotic parts; it also functions as an integrator that puts software and hardware technologies together to create innovative solutions.
With a track record of churning out mobile robots for manufacturing, inspection and logistics industries, the startup has established a reputation as a versatile player.
It claims to be one of the few domestic robotic producers with a presence in use cases as diverse as aerospace, healthcare, electricity, daily chemical, as well as library and archive.
The company’s product line consists of robotic controller, robot operating system, AI and big data processing, cloud transmission and storage, application software and proprietary finished robots.
They are deployed to a vast number of scenarios such as EV and parts, new energy, mechatronics, pharmaceutical, textile, aerospace and aviation. Sage-Modi counts among its clients big corporations like Johnson & Johnson and Luxshare, an Apple contractor.