MegaRobo, a high-tech startup that applies AI and robotics in life sciences and other sectors, has raised $65 million in a funding round led by Hong Kong-listed pharma giant WuXi AppTec, as per a company statement.
The round was joined by existing investors including Matrix Partners China, Dr. Kai-Fu Lee’s Sinovation Ventures, Germany-based Bosch’s investment arm Bosch Venture Capital, early-stage investment firm Future Capital, Liando U Valley, and Joy Capital, a consumption-driven investment firm that has backed startups like grocery app Nice Tuan, digital energy platform Newlink, and mock meat brand STARFIELD.
MegaRobo had raised $30 million in a Series B round from Matrix Partners China, Joy Capital, Sinovation Ventures, Liando U Valley, and Bosch Venture Capital last year, followed by a similar-sized Series B+ round financing from Matrix Partners China, Sinovation Ventures, and Joy Capital in February this year.
Following the latest funding round, MegaRobo will continue to bankroll the R&D and innovation of automation products and business capacity. It will also advance the construction of its automatic robot laboratory.
With headquarters in Beijing and overseas divisions in US (Detroit) and Germany’s Munich, MegaRobo primarily develops application of robotics and AI in the life science industry. Additionally, it also delivers new-generation automation solutions for smart retail and lightweight manufacturing sectors.
Established in 2016, the startup has served 112 clients and has delivered dozens of automatic systems and products such as motion control components, robots, megacloud platform, and robot laboratory system, according to its official website.
Prior to that, MegaRobo had already completed four rounds of financing from Innoangel Fund, AI-focused Zhulu Capital, PowerCloud Venture Capital, which is a joint fund co-launched by Innovation Angel Funds, PowerVision Group, and Beijing Jiaxun Feihong Electrical.