China-based service robot manufacturer Keenon Robotics received $200m on Wednesday in a series D round led by telecommunications and internet group SoftBank’s Vision Fund 2.
The round included Prosperity7 Ventures, the growth equity fund owned by oil and gas producer Saudi Aramco’s corporate venturing arm, Aramco Ventures, as well as China International Capital Corporation’s CICC Alpha subsidiary.
Founded in 2010, Keenon has developed service robots that use automation technology to carry out repetitive tasks in the service industries like catering, hospitality, healthcare, entertainment and real estate. It is currently active in China, Europe, the United States, South Korea and Singapore.
The company will use the funding to advance its research and development, expand into new markets and identify new growth prospects. SoftBank led its $15.3m series C round in December 2020 through subsidiary SoftBank Ventures Asia.
Keenon had previously raised $28.3m in series B funding from Walden International, Source Code Capital, Shanghai S&T, iVision Ventures and Yunqi Partners in March 2020, the last two of which had already invested in an early 2019 pre-series B round alongside Seekdource.
Kentaro Matsui, managing director at SoftBank Vision Fund, said: “We believe robotic solutions can have a profound impact across the services industry by assisting with repetitive, tedious workflows.
“Using AI and machine learning, combined with advanced manufacturing capabilities, Keenon is building innovative robotics to help increase productivity for restaurants, hotels and hospitals in China and globally. We are pleased to partner with (Keenon CEO) Li Tong and the Keenon team to support their mission of driving the smart autonomous delivery revolution.”
