Keenon Robotics Co. today announced that it has raised $200 million in Series D funding, which it claimed is the largest fundraising round in service robotics to date.
The Shanghai-based company will use the funding to “drive innovation through its in-house R&D to provide new, efficient, and cost-saving applications, while scaling its current robot platform through the expansion in new markets and identifying new prospects to promote growth and boost revenue,” said Tony Li, founder of Keenon Robotics.
Founded in 2010, Keenon said it has applied artificial intelligence to smart delivery systems. The company's service robots are used in industries such as real estate, healthcare, and hospitality.
Keenon expands service robots
As the world continues to look for ways to ensure safety, efficiency, and productivity, mobile service robots are proving to be a successful solution to business needs, said Keenon Robotics.
Starting with food delivery in restaurants, the company has gradually expanded its automation to hotels, hospitals, and other scenarios. Keenon has reached markets in North America, Europe, South Korea, and Singapore.
“We are very optimistic about the future development prospects of Keenon Robotics,” said the company. “By capitalizing on the strong relationships with its investors, Keenon focuses on building long-term value for the company by exploring new markets, trends, and customers.”
SoftBank leads round
SoftBank Vision Fund 2 led Keenon Robotics' Series D round, followed by CICC ALPHA and Prosperity7 Ventures, the diversified growth fund of Aramco Ventures. China Renaissance was the exclusive financial advisor for this financing.
“We believe robotic solutions can have a profound impact across the services industry by assisting with repetitive, tedious workflows,” said Kentaro Matsui, managing director at SoftBank Group and former managing partner at SoftBank Investment Advisers. “Using AI and machine learning, combined with advanced manufacturing capabilities, Keenon is building innovative robotics to help increase productivity for restaurants, hotels, and hospitals in China and globally.”
“The COVID-19 epidemic has significantly changed the way of communication,” said Maxwell Zhou, member of the founding team and executive general manager of CICC ALPHA. “The non-contact economy will become an important development trend in the post-epidemic era.”
“With the continuous maturity of positioning and navigation technologies such as laser SLAM [simultaneous localization and mapping] and visual SLAM, commercial service robots represented by food delivery robots will usher in an explosion,” Zhou added.
“The intersection of traditional automation with AI unlocks various new applications for robotics beyond typical repetitive tasks,” said Aysar Tayeb, executive managing director of Prosperity7 Ventures. “Keenon is leading integrating robots into the services industry, with various interesting applications. We are looking forward to support bringing these robots into Saudi Arabia and helping Keenon expand its rapidly growing global footprint.”
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