CowaRobot, a China-based autonomous driving technology developer backed by telecommunications and internet group SoftBank’s SBCVC subsidiary, has secured $250m in series C funding from undisclosed backers, 36Kr reported today.
Founded in 2015, CowaRobot has built self-driving robots designed for areas including unmanned environmental sanitation, urban logistics and smart travel, the last through its intelligent suitcase products.
The company operates across the Chinese cities of Chengdu, Changsha, Zhuhai and Tianjin, and will use the funding to ramp up its self-driving capabilities and expand its domestic presence.
SBCVC had joined venture capital firm China Creation Ventures to co-lead a $21.1m series B round for CowaRobot in 2018, participating alongside Infore Investment Holding Group, Orca M&A Capital, China Minsheng Investment Group, Empower Investment and Wuhu Venture Capital.
Empower Investment and Wuhu VC had backed the company’s $5.7m series A round in 2016, Empower having also provided an undisclosed amount of pre-series A funding at an unspecified date.
