AI Solution Developer Roobo Wraps up USD53 Million B-Round Financing, Seeks Strategic Upgrade
Zhang Xia
/SOURCE : Yicai
AI Solution Developer Roobo Wraps up USD53 Million B-Round Financing, Seeks Strategic Upgrade

(Yicai Global) Sept. 7 -- Beijing-based home robot developer Roobo has wrapped up USD53 million (CNY350 million) B-round financing led by Seven Seas Partners, with the proceeds to be spent on product upgrade, technology development and recruitment, it said.

In a bid to drive a strategic upgrade revolving around its Rosai intelligent robot system, the firm will transform itself from an artificial intelligence product (AI) developer toward a technology platform -- more precisely, an AI solution provider.

Xiong Minghua, founder of Seven Seas Partners and former chief technology officer at Shenzhen Tencent Computer System Co., will act as Roobo's chairman, 36kr.com reported yesterday.

Roobo's first product is called Pudding Robot, and is a home education and companion robot system designed for kids, and is the firm's biggest revenue earner. Two models, Pudding BeanQ and Pudding S, developed for the Roobo Pudding series sold over 100,000 units last year.

With the proposed strategic upgrade, Roobo seeks to expand its business coverage to include both the customer and business markets. 

Rosai, Roobo's latest product, is a complete robotic solution that comes with hardware modules, a software system and a comprehensive range of AI capabilities. Its design satisfies users' smart home, healthcare, education and banking needs and provides other vertical services.

Roobo completed A-round funding of USD100 million led by Iflytek Co. [SHE:002230] last September.

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Keywords: MSCI , Roobo , AI