SpeedBot, a leading company in industrial intelligence software, bags CNY 300 million(USD 44.4 million) in Series B financing, led by Matrix Partners.
The SpeedBot Robotics Ltd.(SpeedBot,Chinese:视比特机器人), a leading 3D vision and industrial intelligence software provider, completed CNY 300 million(USD 44.4 million) in Series B financing, led by Matrix Partners, followed by Dice Investment, Zhaoshang Xingxiang and Hongde Investment. Existing shareholders CICC Capital, Magic Stone Equity Investment and Co-power Partner continued to increase their investments. CVC Capital acted as the exclusive financial advisor for this round of financing.
The fund will be mainly used to help the company focus on a "software-powered industrial intelligence" system, build a more sustainable and smarter industrial intelligence software platform, and continuously accelerate the implementation of intelligent production lines in various industries with technology innovation to reduce customer costs, and create a sound and affordable intelligent production line for more industries involved, news portal 36kr.com reported.
SpeedBot, founded in 2018, is a high-tech company dedicated to the development of vision-guided intelligent robots integrating 3D visual perception and flexible robotic control. It focuses on empowering robots with smart vision and brain and developing vision-guided smart and flexible robots targeting challenging application scenarios in manufacturing, logistics, and retailing. Several core technologies and products encompass 3D vision algorithm and software, customized end-effectors with software control, and visual perception computing platform.
China is a large manufacturing country, with the world's largest and most complete industrial system. In recent years, the high-end intelligent manufacturing equipment industry system represented by new sensors, intelligent control systems, industrial robots and automated production lines is gradually taking shape, but in general, its key technologies, core components and high-end intelligent industrial software are still dependent. This explains why the field has been so attractive for both players and investors.
SpeedBot’s international competitors include UR and Rethink and domestic ones include Estun(Chinese:埃斯顿), Kuka(Chinese:库卡) and TOPSTAR(Chinese:拓斯达).