100M Series B Funding for Flexiv: Investors are paying a lot of attention to enterprises that build robots because businesses all over the world are becoming increasingly interested in automating their production lines and supply networks.
The worth of the businesses that make robots is increasing as a result of this factor. The most recent business to receive money was Flexiv, which, according to the information received by TechCrunch, was able to successfully conclude a Series B round of funding worth more than 100M Series B Funding for Flexiv from investors including the on-demand services giant Meituan in China. This information has been made available to TechCrunch.
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Gaorong Capital, GSR Businesses, and Plug & Play’s firms in both China and the United States are a few examples of the other significant investors participating in the strategic round.
100M Series B Funding for Flexiv – China’s Top Delivery Service
YF Capital, which is run by Jack Ma, is also one of the main investors participating in this round. Capital in the amount of more than one hundred twenty million dollars has been given to the overall functioning of the organization up until this point.
This is a common tactic utilized by Chinese businesspeople who have previously worked or studied in the United States and now run artificial intelligence companies.
China is home to the majority of the company’s workers, which accounts for two-thirds of the total workforce across all of the company’s locations. The firm has a presence in a number of the most important cities in both California and China through the maintenance of offices there.
100M Series B Funding for Flexiv was established in the year 2016, and its founder, Wang Shiquan, is a graduate of Stanford University’s Biomimetics and Dexterous Manipulation Lab. Flexiv was named after him. The creation of bendable robots that have the potential to be utilized in the field of industrial production is the core focus of the company.
The company has recently been successful in raising additional capital, which it intends to deploy toward developing new applications for the AI-driven general-purpose robots it already possesses. These brand-new marketplaces will encompass, amongst other things, the fields of agriculture, medical care, and logistics.
Companies such as Flexiv are now in a position to potentially deploy their solutions in Meituan’s core food delivery business as a result of the strategic investment that Meituan has made. This opportunity was made possible by Meituan’s decision to undertake it.
This activity consists of tasks that are repetitive and have a high volume, making them excellent candidates for automation because of their characteristics.
During an interview with TechCrunch, Wang claimed that traditional manufacturing still offers a significant amount of potential for automation that has not yet been exploited. Because the manufacturing of consumer electronics, in particular, requires processes that are both high-precision and sensitive, the assembly line frequently needs to be rebuilt whenever a new product is introduced.
This is because the production of consumer electronics requires processes that are both high-precision and sensitive. This is due to the characteristics of the processes that were utilized. Wang stated that the robots that Flexiv manufactures have the ability to adjust to new circumstances and could save plant managers some time and money when it comes to the installation of new technologies. This is due to the fact that the robots are equipped with force feedback and computer vision systems from the factory.
The founder of the company asserted that the flexible robots that the company manufactures are what set it apart from many of the other existing companies in the market and are the reason for the company’s success.
When there are no obstructions in the immediate area, traditional robotic arms are in a position to carry out activities in a risk-free manner; nonetheless, they are less capable of functioning in situations that are intricate.
.. In reality, many tasks that initially appear to be straightforward, such as washing the dishes, demand a high level of recognition and decision-making capacity that is supported by artificial intelligence. Examples of such tasks include The following are some examples of these types of activities:
The manufacturing firm has been engaged in mass production ever since the beginning of the second half of this year, and as of right now, they have manufactured something in the neighborhood of one hundred robots.
The company anticipates the majority of its income will come from three basic sources: the provision of after-sale services, the sale of software licenses, and the sale of robots. Finding partners and clients across a diverse range of business sectors who are willing to put their faith in its nascent technology is consequently the most challenging component of the process.
Despite the fact that China is still Flexiv’s most important market, the company’s expansion strategy places a significant emphasis on the North American market. China is still Flexiv’s most important market. Flexiv’s primary focus is still on expanding its presence in China’s market. According to Wang’s theory, “each nation possesses its own distinctive competitive edge in robotics.”
100M Series B Funding for Flexiv, Manufacturing, supply chains, and labor pricing are all areas in which China excels, giving it an advantage over other countries in terms of competition. China’s manufacturing industry is particularly strong.
The inventor of the concept asserts that “the distinction between different countries is obviously reducing” in terms of traditional and adaptive robotics.