(Yicai Global) Aug. 17 -- Tianjin Yangtian Technology Co. has completed CNY50 million (USD7.4 million) pre-A round of financing, with Lenovo Capital and Incubator Group (LCIG) as the leading investor, the company said yesterday. Angel investor GSR United Capital and Yinxinggu Capital were the participating investors.

"This round of financing will be mainly used for Yangtian Technology's collaborative robot series core technology research and development, market channel promotion and production line construction," the internet media jiemian.com reported, citing Liang Dong, founder and CEO of Tianjin Yangtian Technology.

The lightweight cooperative robot Yangtian Technology independently developed has a competitive advantage in robot body weight, product specifications and series, positioning accuracy and algorithm, and is also better than that of the international giants in positioning accuracy, the report said.

Yangtian Technology has completed the research and development of the world's first 20 kg lightweight modular robot and had mass production in early 2017, media reports suggested.

Wang Guangxi, managing director of Lenovo Venture Capital and Incubator Group, the leading investor of the current round of financing, said, "Lenovo Group Ltd will provide more resources to help Yangtian Technology make rapid development in the field of intelligent manufacturing to become a leader in autonomous robot brand as soon as possible."