China-based automation technology provider MegaRobo has completed a $30m series B round that included Robert Bosch Venture Capital, the investment arm of industrial technology producer Robert Bosch, DealStreetAsia reported on Tuesday.
Sinovation Ventures led the round, investing together with fellow venture capital firm Joy Capital and Liando Investment, a subsidiary of industrial park operator Liando U Valley, according to a company announcement cited by DealStreetAsia.
Founded in 2016, MegaRobo is applying robotics and internet-of-things technology to areas such as life sciences and unmanned retail in order to increase automation.
The company’s products include motion control components, and robotics equipment for use in laboratory experiments or manufacturing, and it has also created a cloud software management platform for its products called MegaCloud.
Robert Bosch Venture Capital had previously led a series A round of undisclosed size for the company in June 2019 that also featured Joy Capital and VC firms Gobi Partners and Future Capital.
MegaRobo had previously raised about $750,000 in 2016, about $1.5m in seed capital the following year and $10m in a June 2018 series A round, according to DealStreetAsia. Its website also lists InnoAngel Fund as an investor.
Image courtesy of MegaRobo.
