Will this robot start-up be the next Tencent in the era of artificial intelligence?

Tencent’s ex-tech chief has led a US$53.6 million funding round in Roobo, a Chinese robot start-up

Roobo, a Beijing-based robot start-up, has secured another US$53.6 million in funding, lifting its valuation close to US41 billion. Photo: Jamie Carter

Seven Seas Partners, a venture capital firm founded by Tencent Holdings’ former chief technology officer, has led a 350 million yuan (US$53.6 million) funding round in a Chinese start-up, betting big to find the next Chinese tech giant in the robot sector.

The funding for Roobo, a Beijing start-up that sells conversational service robots, would lift the firm’s valuation close to that of a unicorn – private companies valuated at US$1 billion or more, according to the company’s chief executive Liu Yingbo.

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