Investors bet big on Chinese robot makers amid the Covid-19 pandemic
- From manufacturing to the service sector, robots are playing a bigger role in China
While Covid-19 is still affecting people’s lives, industries that help reduce human contact, such as robotics, are gaining financial support from investors.
Shenzhen-based service robot maker PuduTech said on Wednesday that the company has closed a nearly 100 million yuan (US$14.5 million) Series B+ round led by Sequoia Capital China and joined by earlier investors including Chinese on-demand delivery giant Meituan Dianping.
This round comes less than two months after the start-up, which has rolled out robots that deliver goods to diners inside restaurants, closed its more than 100 million yuan Series B round led by Meituan in early July.
“Robots are a new type of labour and the sector is one we have paid constant attention to,” Guo Shanshan, partner of Sequoia, said on Wednesday. “Demand for such labour is increasing and I believe that service robots will soon become a must for many industries.”
Beijing-based industrial robot maker Rokae also disclosed on Wednesday that the firm raised 100 million yuan from Xianghe Capital in its Series C1 round, 36Kr has learned.
Rokae produces robotic arms which can fulfil some tasks in manufacturing, such as polishing the rear panel of smartphones, cleaning printing machines while they are still operational, and glue spreading.