Chinese collaborative robots developer JAKA Robotics has raised over 300 million yuan ($46.4 million) in a Series C round of financing while AI startup WAYZ has completed a Series A+ round at $40 million.
Chinese cobots developer JAKA raises $46.4m in Series C round
JAKA Robotics, a Chinese startup that offers collaborative robots to clients like Toyota and Volkswagen, has secured over 300 million yuan ($46.4 million) in a Series C round of financing jointly led by CITIC’s alternative asset manager CPE and state-backed CMG-SDIC Capital.
Existing investor, IT-focused investment firm FG Venture, also backed the round. Hong Kong-listed investment bank China Renaissance served as the exclusive financial adviser for the deal.
JAKA, short for “Just Always Keeping Amazing,” was founded in 2014 to focus on the innovation and development of next-generation collaborative robots or cobots. Its products are deployed for sustainable manufacturing across industries like 3C electronics, automobile, food packaging, chemical & synthetic fibres, new energy, medical devices, and education, among others.
The new financing will help the startup accelerate its product and service optimisation, compete for a larger market share and expand globally.
JAKA raised about 100 million yuan in a Series B round led by SAIF Partners in April 2019. Its Series A+ round of 60 million yuan was completed in March 2018 with a capital injection from FG Venture.
AI smart location startup WAYZ secures $40m Series A+ round
WAYZ, a Chinese artificial intelligence (AI)-based smart location and map service startup, on Friday, announced the completion of a Series A+ funding round at $40 million.
The Series A+ round had the participation of a wide range of domestic investors in China, including Shanghai Pudong Science and Technology Investment (PDSTI), Zhangjiang Group, Shanghai Zhangjiang Hi-Tech Park Development Co Ltd, Henan Zhanxing Industrial Investment Fund, Keytone Ventures, and Summitview Capital.
Financial information services provider Wind, credit rating agency China Chengxin Credit Ratings (CCXI), and others joined as strategic investors. Existing shareholders Lightspeed China Partners and BlueRun Ventures re-upped in the investment.
Shanghai-based WAYZ’s solutions and products are adopted by clients in the fields of smart retail, intelligent marketing, smart mobility, and smart city.
WAYZ, also known as Wayz.ai, was founded in early 2017 by Vincent Tao, who previously served as the CEO and a founding partner of the Chinese video streaming website PPTV Corporation. According to his LinkedIn page, Tao was the Head for Asia and a founding member of Microsoft’s Virtual Earth, LBS, and Maps team, where he led initiatives for mapping & 3D Web, LBS, social networking, as well as part of the creation of the Microsoft China business.
The startup raised $80 million in a Series A round from Lightspeed China Partners and BlueRun Ventures in July 2018.