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At a Glance
Chinese mobile-robot startup Youibot has raised close to 100 million yuan, roughly $15.5 million, from the Seoul-based SoftBank Ventures Asia. The proceeds shall be used in the research and development of its mobile robots and proprietary software and also in expanding their market and team.
The funding round also witnessed participation from Youibot’s existing investors- BlueRun Ventures and SIG. Based in Shenzhen, Youibot has been flourishing in China’s industrial robotics market. Having secured three rounds of financing during 2020 alone, owing to the rising demand for industrial automation during the pandemic, Youibot is reported to have raised about 200 million yuan to date.
Apart from providing solutions for factory automation, logistics management, inspection, and maintenance for various industrial activities, Youibot is also reported to be showing high growth in the semiconductor business using robots for chip packaging, testing, water production, among other functions, the firm has pulled in customers from several prominent front-end wafer fabs.
In the field of energy, their robotics prowess provides three-dimensional solutions in inspection and operation to build a ‘comprehensive robot system.’ Their strongest suits domains include electronics manufacturing, and electric power patrol, but they also lead industries such as petrochemical, gas, and steel.
Cody Zhang, Youibot’s founder, and CEO credits the success to their “project-based team” management model.
Each team has all capabilities, from mobile robot system R&D to sales and service. Which reduces the communication hierarchy and improves the efficiency of solution design and on-site deployment, achieving 100% industry-specific focus and rapid response capabilities.Cody Zhang
While at present, China constitutes 80 percent of Youibot’s total revenue, other overseas markets are catching up. Reports also indicate a three-fold increase in the firm’s revenue from 2020.