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Chinese Robot Maker Jaka Bags USD148 Million in Latest Fundraiser

(Yicai Global) July 20 — Jaka Robotics has secured CNY1 billion (USD148 million) in its latest funding round, making it the company that has completed the most financing rounds and raised the most money in the collaborative robot industry, the firm said today.

The financing round was led by Singaporean sovereign wealth fund Temasek Holdings, Singapore’s True Light Investments, Japan’s SoftBank Vision Fund Phase II and Saudi Arabian oil major Saudi Aramco’s venture capital fund Prosperity7 Ventures, the Shanghai-based company said on China’s Twitter-like Weibo. Strategic investment institutions also invested, although they were not named. China Renaissance was the exclusive financial advisor.

Jaka will use the proceeds from the D-Series to improve its global marketing channels and service networks, said Chief Executive Officer Li Mingyang. It will also supply more intelligent robots to customers in different industries and countries.

Collaborative robots work together with humans in collaborative situations, such as along a production line, often do the heavily lifting and dangerous work. They are easy to use and available at low cost.

Founded in 2014, Jaka raised over CNY300 million (USD44.4 million) in its C round in January last year and CNY175 million in three previous fundraisers. It has supplied over 10,000 robots around the world across a wide range of sectors from automobiles to precision manufacturing, according to its website.

When you have a dream, you’ve got to grab it and never let go. My best of wishes to the entire team. All the best in your future endeavours.

Shishir Gupta, Founder and CEO, StartupLanes

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