(Yicai) May 25 — Chinese robotics startup Tianji Intelligent System has raised CNY1 billion (USD147.4 million) in Series B and B+ financing co-led by Hillhouse Capital-backed GL Ventures and Chinese local services giant Meituan, lifting its valuation to nearly CNY10 billion (USD1.5 billion).
The funding comes as China’s humanoid robotics industry moves from prototypes toward large-scale commercial deployment, with Tianji seeking to expand from industrial collaborative robots into humanoid robots and embodied artificial intelligence.
Tencent Holdings, Gaorong Ventures, Luminous Ventures, and GGV Capital also joined the round, the Dongguan, Guangdong province-based company said today. Tianji will use the proceeds for technology research and development, mass production, and building a global sales network.
Tianji will further raise the automation rate and first-pass yield of its production lines, boost its current delivery capacity of more than 10,000 units, and expand into complete humanoid robots based on its biomimetic dual-arm products, it said.
Founded in 2017, Tianji began with industrial collaborative robots. Its force-controlled biomimetic dual-arm Marvin Series secured orders for more than 10,000 units in the first quarter from customers, including 45 humanoid robot makers and embodied AI companies, Tianji noted.
The company has accumulated extensive data and engineering experience in industrial robotics and precision manufacturing applications, which will support its rapid development in the humanoid robotics sector, it added.
Tianji will also accelerate its global expansion, setting up localized sales and technical support teams in overseas markets, including North America, as it seeks to enter the core supply chains of leading international embodied AI companies.
Editor: Emmi Laine
Leave a comment