SoftBank Group’s robotics unit and Foxconn joined the latest funding round by AI-powered robotic arms manufacturer Telexistence and entered into separate business partnerships with it.
In a statement, Foxconn explained it will collaborate with the Tokyo-based company to develop production technology to mass produce its next-generation model.
Telexistence’s arrangement with SoftBank Robotic Group covers promoting the business globally, with a focus on North America.
The robotic equipment maker raised $170 million in Series-B round from previous investors Monoful Venture Partners, KDDI Open Innovation Fund and Airbus Ventures, and new backers HH-CTBC Partnership (Foxconn Co-GP Fund) and Globis Capital Partners.
Kenichi Yoshida from SoftBank Robotic Group and Ryohei Nomoto from Globis Capital Partners will be appointed as directors.
The backing of new partners SoftBank Group and Foxconn,
Telexistence CEO Jin Tomioka stated it will use the backing of new partners to accelerate an expansion of “existing robot operations and drive development” of units “with human-level versatility”.
The company aims “to amplify our search for top, diverse talent to enhance our global capabilities”, Tomioka added.