Telexistence, a Japanese robotics startup focused on the retail and logistics sectors, raised $170m in Series B funding.
Backers included Monoful Venture Partners, KDDI Open Innovation Fund, Airbus Ventures, SoftBank Group Corp., HH-CTBC Partnership, and Globis Capital Partners.
The company intends to use the funds to expand its business reach in North America and operational capabilities in mass production.
Led by Jin Tomioka, CEO, Telexistence also announced new partnerships with SoftBank Robotic Group Corp. (“SBRG”), a subsidiary of SBG, to promote their business collaboration globally, with a focus on accelerating commercialization in North America. Additionally, TX will initiate its collaboration with Foxconn to establish production technology, carrying out mass production for its next-generation model, “GHOST”. With this funding, Mr. Kenichi “Kent” Yoshida (SBRG) and Mr. Ryohei Nomoto (GCP) will be newly appointed as directors.
Since its inception in 2017, TX has surged ahead from R&D and proof-of-concept with small-scale robots to deploying hundreds of its own robots in dynamic environments outside factories and executed at commercial scale. In 2021, the company announced a partnership with FamilyMart, one of the three major convenience store chains in Japan, through which the team is deploying its robots to 300 of FamilyMart’s stores.
FinSMEs
06/07/2023