Chinese AI and humanoid robotic company UBTECH Robotics today announced a staggering US$820 million in Series C funding. With its new estimated value of US$5 billion, Shenzhen City based UBTECH becomes the world’s most valuable AI startup.
Internet giant Tencent led the funding with a US$120 million investment. It is believed UBTECH’s capabilities in robot design and manufacturing will strengthen Tencent’s AI products. Last year, Tencent reportedly pumped US$40 million into UBTECH. Also joining the funding are the Industrial and Commercial Bank of China, Haier, Minsheng Securities, Telstra, CDHFund, and others.
May 3
UBTECH Robotics Gets US$820 Million Funding; Becomes the World’s Most Valuable AI Startup
Chinese AI and humanoid robotic company UBTECH Robotics today announced a staggering US$820 million in Series C funding. With its new estimated value of US$5 billion, Shenzhen City based UBTECH becomes the world’s most valuable AI startup.
Internet giant Tencent led the funding with a US$120 million investment. It is believed UBTECH’s capabilities in robot design and manufacturing will strengthen Tencent’s AI products. Last year, Tencent reportedly pumped US$40 million into UBTECH. Also joining the funding are the Industrial and Commercial Bank of China, Haier, Minsheng Securities, Telstra, CDHFund, and others.
Zhou Jian
UBTECH Founder and CEO Zhou Jian told Synced that “this round of financing will be mainly used for strengthening R&D capabilities, facilitating marketing and brand development, and attracting top-tier talents.”