Software firm Baosight to pour shy of US$28m into industrial robot maker Turin

In recent years, industrial software companies are tapping into China's emerging robotic scene, eyeing the potential of closer integration between software capabilities and physical equipment.

Baosight (宝信软件, 600845.SH), a software company in China, said it plans to invest 197 million yuan (US$27.56 million) into Turin (图灵机器人) to obtain a controlling stake in the Shanghai-based robotic startup.

According to an exchange filing by Baosight, it seeks to seize the opportunity in Chinese robotics and compensate for its own deficiencies in industrial chains.

The goal is to create a homegrown high-end industrial robot brand, breaking the monopoly of international brands with indigenous substitutes in the high-end large-payload industrial robot market, the filing adds.

For this reason, Baosight’s board decided to pay 197 million yuan in cash for an undisclosed amount of equity in Turin.

cnrobopedia reported in March this year that Turin bagged some US$14 million from a Series A funding round.

Turin mainly churns out high-precision six-axis industrial robots with payloads from 1kg to 500kg. It rich product line spans sectors including auto parts processing, new energy and 3C electronics.

Baosight is a software arm majority-owned by Baosteel (宝钢集团). It focuses on digitalizing production processes in steel, transport, non-ferrous metals, petrochemical and mining industries.

In recent years, industrial software companies are tapping into China’s emerging robotic scene, eyeing the potential of closer integration between software capabilities and physical equipment.

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Ni Tao

Ni Tao is the founder and editor-in-chief of cnrobopedia. Prior to cnrobopedia, he had a full decade of experience with a major state-run English-language newspaper as a tech reporter and opinion writer. He is also a communications specialist, having provided consultancy services to established firms like Siemens, Philips, ABinBev, Diageo, Trip.com Group (Nasdaq: TCOM, HK: 9961), Jianpu Technology (NYSE: JT) and a handful of domestic startups. A graduate of Fudan University, he writes widely about China's business and tech scenes and other topics for global publications including South China Morning Post, SupChina, The Diplomat, CGTN, Banking Technology, among others, and tries to impart his experience to students at Fudan University Journalism School, where he is a part-time lecturer. When he's not writing about robotics, you can expect him to be on his beloved Yanagisawa saxophones, trying to play some jazz riffs, often in vain and occasionally against the protests of an angry neighbor. Get in touch with him by dropping a line at nitao0927@gmail.com.

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