China-based intelligent industrial technology developer Matrixtime Robotics, has raised RMB110m ($15.9m) series A funding from investors including equipment manufacturer Suzhou HYC Technology, China Money Network has reported.
Hunan High-tech Venture Capital, Nanjing Jiangbei New Area Industrial Investment Group and Nanjing Jiangbei Intelligent Manufacturing Industry Fund also took part in the round.
Founded in 2018, Maxtrixtime is developing complex computer vision and industrial robotics systems using deep learning to automate advanced manufacturing, solar photovoltaic power production and unmanned ports.
The company’s artificial intelligence software is designed to give robots intelligent and precise control, allowing them to perform tasks such as detecting complex semiconductor chips or stacking containers.
The funding will be used to boost product development as Maxtrixtime seeks to enhance its technology capabilities in the semiconductor sector and strengthen its ability to supply large-scale products.
Seafood producer Guolian Group and financial services firm SBI Group had joined CAS Star’s Beijing Hard Science and Technology Fund to provide an undisclosed amount of pre-series A funding for the company in the first half of 2019, according to China Money Network.
