Youibot Robotics, a Chinese developer of autonomous mobile robots (AMRs) and automation solutions, has closed its Series C funding round as the startup plans to invest 1.4 billion yuan (about $193 million) in setting up new headquarters and manufacturing facilities.
Hefei Dongcheng Industry Investment, a state capital investor in Hefei City in eastern China, has joined the round, according to a statement from Anhui Jun Xian Law Firm, which advised the investor on the transaction.
The investment comes as Shenzhen-based Youibot is looking to build new facilities in Hefei with an estimated total investment of 1.4 billion yuan. Its locally-registered entity will also carry out the startup’s future listing, said the law firm.
Youibot confirmed the participation of Hefei Dongcheng Industry Investment in its Series C round in an email reply to DealStreetAsia. But it declined to disclose more details, including its fundraising size and post-money valuation.
The startup in May signed an agreement with one of Hefei’s county-level governments, pledging to move its headquarters and build five new centres in Hefei for R&D, manufacturing, product innovation, engineering, and marketing, respectively. Its new facilities are expected to generate 1.6 billion yuan ($220.5 million) in annual output value and create job opportunities for over 400 people.
Founded in 2017, Youibot mainly offers industrial-grade AMRs and integrated automation solutions to clients across the fields of automotive, consumer electronics, semiconductors, warehousing, and fast-moving consumer goods (FMCG).
Operating from Shenzhen, Suzhou, Xi’an, and Beijing, the startup claims to serve more than 250 clients globally, including French tyre maker Michelin, Facebook owner Meta Platforms, German logistics giant DHL, and Taiwanese contract chipmaker TSMC, according to its website.
Youibot closed a Series B round at over 300 million yuan ($41.3 million) in December 2021. FG Venture and Kingray Capital led the previous deal, with participation from others like IDG Capital, Green Pine Capital Partners, and SoftBank Ventures Asia, which is now known as SBVA.