Chinese start-up Mech-Mind has completed its B+ round of fundraising and secured almost US$15m (£11.1m) to develop its deep-learning, 3D vision and motion planning technology for AI-enabled industrial robots.
The funding round was backed by Sequoia Capital China and Source Code Capital and brings the total amount of investment raised to US$40m (£29.5m).
Tianlan Shao, CEO of Mech-Mind, said: “We intend to solve pain points in industries with our capabilities. For example, one major pain point existing for decades in many industries in logistics or manufacturing scenarios is picking under complex scenarios.
“Traditionally, complex picking activities such as palletising and depalletising, order picking, parcel loading and machine tending are all pure manual work, which is costly, inefficient and not usually welcomed by workers because of its repetitiveness and tediousness.
“We are now equipping industrial robots with our AI abilities, which can in turn make what seemed impossible possible and affordable.”
The company aims to combine AI and industrial robotics in real-life scenarios on a large scale for the automotive industry, home appliances, food, logistics, hospitals, and banks.