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Chinese robotics company UBTECH gets $ 820 million in funding

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UBTECH, a Shenzhen-based residential robotics company, announced this week that it has closed a C $ 820 million series. The turn, led by Tencent and a host of other investors, follows a B series of 100 million and 20 million dollars. Series C.

The biped robotic manufacturer is certainly not a family name here in the United States – although the company has taken a few steps here, including a Stormtrooper walking robot The Last Jedi . He also debuted with a "robotic butler" with a tablet back at CES in January that seemed more of a proof of concept than shipping a product – although UBTECH promised a release date of 2019.

CEO James Zhou promised that the company would use this huge support to accelerate his vision of introducing robots into the home.

"As technology evolves to include more voice and tactile capabilities, people need new devices that communicate and interact more naturally and intuitively at home, at school and at work" . "As trends in robots and robotics grow, no business has yet advanced with the ecosystem of resources, vision and products to turn robotic fantasy and fiction into robotic reality. UBTECH brings this reality to life by expanding opportunities for innovation. "

The company says the funding will go to research and development, hiring and expanding its global footprint. UBTECH is part of a number of companies that push home robotics beyond Roomba, including an upcoming device from Amazon. The technology has been difficult to exploit in previous decades, but an investment of $ 820 million certainly could not hurt.

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