Tech company SpeedBot pockets CNY 300 million from Series B

SpeedBot, a leading industrial intelligence software company, wins CNY 300 million ($44.4 million) Series B funding, led by Matrix Partners.

SpeedBot Robotics Ltd. (SpeedBot, Chinese: 视比特机器人), a leading provider of 3D vision and industrial intelligence software, completed a CNY300 million ($44.4 million) Series B financing, led by Matrix Partners, followed by Dice Investment, Zhaoshang Xingxiang and Hongde Investment. Existing shareholders CICC Capital, Magic Stone Equity Investment and Co-power Partner continued to increase their investments. CVC Capital acted as exclusive financial advisor for this round of financing.

The fund will be mainly used to help the company focus on a “software-powered industrial intelligence” system, build a more sustainable and smarter industrial intelligence software platform, and continuously accelerate the implementation of intelligent production lines in various industries through technological innovation to reduce customers’ costs and create a solid and affordable intelligent production line for more industries involved, news portal 36kr reported. com.

SpeedBot, founded in 2018, is a high-tech company dedicated to the development of intelligent vision-guided robots integrating 3D visual perception and flexible robotic control. It focuses on empowering robots with intelligent vision and brains and developing intelligent and flexible vision-guided robots targeting challenging application scenarios in manufacturing, logistics and retail. Several core technologies and products encompass a 3D vision algorithm and software, custom end-effectors with software control, and a visual perception computing platform.

China is a major manufacturing country, with the largest and most comprehensive industrial system in the world. In recent years, the high-end intelligent manufacturing equipment industry system represented by new sensors, intelligent control systems, industrial robots and automated production lines is gradually taking shape, but in general, its key technologies , its core components and high-end intelligent industrial software are still dependent. This explains why the field has been so attractive to players and investors.

SpeedBot’s international competitors include UR and Rethink and domestic competitors include Estun (Chinese: 埃斯顿), Kuka (Chinese: 库卡), and TOPSTAR (Chinese: 拓斯达).