Shark Robot (沙克机器人), a startup producing specialized inspection robot, has received an undisclosed amount of funding in a Series A round backed by Foxconn, Apple’s chief contractor, Chinese media reported.
Founded in June 2022 in southwestern China’s Guizhou Province, Shark Robot supplies AI algorithms and inspection robots to clients in IDC, power grid, power station, petrochemical, rail transport and intelligent aquaculture industries.
The startup also has deployed a remote platform to control the specialized inspection robots across a wide spectrum of industrial applications.
The company, which possesses strengths in AI deep learning, self-navigation, visual recognition, voice interaction and facial recognition, is capable of conducting on-the-spot checks of equipment as per pre-programmed mission requirements.
This will bolster the reliability and safety of these equipment, Shark Robot claims.
The company closed an angel round of financing in June 2022, counting Yunhe Partners, Yunqi Ventures and Guiyang VC among its investors.
According to Frost & Sullivan, China’s smart inspection robot market hit 11.2 billion yuan (US$1.62 billion) in 2021. The sector grew at a CAGR of 44.1% from 2017 to 2021.
Given the future developments of IoT, AI and cloud computing, the market is projected to reach 13.1 billion yuan this year, said Frost & Sullivan.