A subsidiary of electronics manufacturer Lenovo, has led a RMB50m ($7.5m) pre-series A round for China-based robotics technology developer Tianjin YangTian Technology, China Money Network reported yesterday.
Lenovo Capital and Incubator Group (LCIG) was joined in the round by venture capital firms GSR Ventures and Yinxinggu Capital.
YangTian is developing a robotic arm that can perform a variety of industrial processes, primarily for the production of computer, communication and consumer electronics equipment.
He Zhiqiang, chairman of LCIG, said: “The smart internet era has arrived with more robots expected to replace humans in the future. One of the most important areas where this revolution will take place is the light collaborative robotic arm sector.”