Internet and telecommunication group Softbank’s Vision Fund 2 has led a $220m series C round for Germany-based intelligent robotics developer Agile Robots.
The round, which valued the business at over $1bn, included contract electronics manufacturer Foxconn’s Industrial Internet unit, electronics producer Xiaomi, Hillhouse Capital’s GL Ventures subsidiary, Midas, Chimera Investments, Sequoia China and Linear Capital.
Spun out of German Aerospace Center, Agile develops software and smart robotics technology aimed at the healthcare and consumer electronics manufacturing sectors. Its products include an operating system for controlling robots called AgileCore in addition to medical robots.
The series C round will finance the company’s product development and production activities as well as the growth of its global sales network.
Eric Chen, managing partner at SoftBank Investment Advisers, said: “Agile Robots connects artificial intelligence with advanced robotics technology to solve some of the most challenging industry problems and is the latest example of our continued support of China’s growing technology sector.”
Agile had raised $130m during 2020, including a series B round featuring agriculture and real estate conglomerate New Hope Group, financial services firms Bank of Communications’ Bocom International unit and an unspecified telecommunications fund managed by China Merchants Bank’s CMB International arm.
Sequoia China, Linear Capital and GL Ventures also contributed to the 2020 funding, having participated in a series A round in April reported to have been in the eight-figure dollar range that was also backed by medical robotics technology producer Tianzhihang.