German-Chinese robotics software platform company Agile Robots has announced the completion of a Series C financing round with a total investment of US$220m (£158m).
The financing exercise was led by SoftBank Vision Fund 2, followed by financial investors including but not limited to Chimera Investments under Abu Dhabi Royal Group, GL Ventures, Sequoia China and Linear Capital, and strategic investors including Xiaomi Group, Foxconn Industrial Internet, and Midas.
The proceedings build on the US$130m (£93m) raised in 2020 and will be used for the company’s product development, mass production and global sales business expansion, according to Agile Robotics, is headquartered in Munich, Germany and Beijing, China.
Founded in 2018, Agile Robots develops high-precision force-controlled robots with advanced collision detection and joint-torque control capabilities that can be deployed and adapted to a variety of application scenarios, including s medical treatment and automotive manufacturing.
“As part of our ongoing commitment to China’s dynamic market and to help entrepreneurs drive a wave of innovation, we are delighted to partner with the Agile Robots team,” said Dr Eric Chen, managing partner at SoftBank Investment Advisers.
“Agile Robots connects artificial intelligence with advanced robotics technology to solve some of the most challenging industry problems and is the latest example of our continued support of China’s growing technology sector.”