Tokyo-based Telexistence made a statement. It said it raised $170 million in a Series B financing round from the KDDI Open Innovation Fund, a fund established by SoftBank, Airbus Ventures, Monoful Partners, Foxconn and CTBC Financial Holdings. In total, Telexistence has raised about $193.5 million since its inception with the latest round.
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Telexistence
What do we know about Telexistence? Founded in 2017. Develops AI-powered robotic arms for the retail and logistics industry. CEO Jin Tomioka made a statement. The company will use its new capital to support its workforce globally. In addition to the funding, Telexistence is also announcing a strategic partnership with SoftBank Robotics Group, a unit of SoftBank Group, to accelerate its commercialization in North America. The startup also said it will work with Foxconn to produce its next-generation robot called "Ghost".
Kenichi Kent Yoshida of SoftBank Robotics Group and Ryohei Nomoto of Globis Capital Partners will join Telexistence's board of directors as a result of their investment. SoftBank has been a bit more optimistic about investments in robotics, backing California-based Bear Robotics in 2020. Through SoftBank Vision Fund 2, it also invested in Shanghai-based Keenon Robotics, which specializes in service development.
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