Flexiv, a general-purpose robotics company, has raised more than $100 million in its Series B funding round. Among the major investors in the round were Meituan, Meta Capital, New Hope Group, Longwood, YF Capital, Gaorong Capital, GSR Ventures, and Plug and Play. It was the largest single-round fundraising in the field of general-purpose robotics.
“Strategic funding from leading companies and funds in various industries will be used primarily for mass production and marketing, new market development, and cutting-edge R&D,” says Shiquan Wang, Flexiv’s co-founder and CEO. “We will continue to focus on manufacturing automation transformation while also investigating new applications in a broader range of industries such as services, agriculture, logistics, and medical care, among others.” “With new investor business opportunities in nearly every industry, we will be able to develop and refine our products and robot AI in a wide range of real-world application scenarios, which will greatly benefit our development of the most advanced general intelligence and robotics technology.”
Flexiv is dedicated to developing “the best human-inspired robotics and AI technologies and applying them across all industries,” according to the company. Four years after its founding, Flexiv has completed the development of its core hardware and software products, with over 100 technical patents submitted, and has validated its primary business model. It now claims to be ready for further business growth. Flexiv raised a total of $22 million in its series A+ funding round in 2019. In April 2019, Flexiv officially launched its first product, the world’s first adaptive robot Rizon. Rizon received both the iF Design Award and the German Innovation Award in 2020, gaining global recognition for its design and product value.
“Flexiv’s breakthroughs in cutting-edge general robotics technologies have pushed the boundaries of industrial automation and intelligence,” says GSR managing director Richard Lim. “The team possesses superior industry knowledge and research abilities.” We are thrilled to have worked with Flexiv since their inception at Stanford University, and we look forward to supporting their efforts to make intelligent robotics a part of a variety of industries.”
The company has manufactured over 100 adaptive robots and developed a number of reliable and unique industrial applications after investing significant time and resources in product verification and iterative optimization in the fields. Due to its cutting-edge technology and highly cost-effective solutions, Flexiv has received repurchase orders from several renowned clients in the automotive, 3C electronics, and Internet industries across China, North America, Europe, and South Korea.
Flexiv conducts in-house research and development of key proprietary technologies such as robotic manipulator hardware, servo control systems, force/torque sensors, robotic operation and development systems, and various algorithms. This ensures that the product has distinct benefits and performs admirably. Furthermore, the research findings of Flexiv’s AI team have been published in prestigious academic journals such as Nature-machine intelligence and Engineering, where the concept of general-purpose intelligent agent system was defined for the first time, and have broken world records in multiple AI-related fields 18 times.
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