Autonomous robot maker Youibot recently raised nearly $15.5M in its latest funding round led by SoftBank Ventures Asia and supported by previous investors BlueRun Ventures and SIG. This recent round caps off Youibot’s three funding rounds of 2020, bringing the company’s total capital raised to over $29M.
The startup, based in Shenzhen where it participated in HAX’s hardware accelerator program, saw a sharp incline in interest at the start of the pandemic when businesses embraced industrial automation technology to minimize human contact. To this end, Youibot builds factory automation, logistics management, and inspection and maintenance solutions.
With the injection of new funds, Youibot intends to bolster its research and development in software IP and mobile robots, talent recruitment, and market expansion.