Mech-Mind Robotics Technologies

2020: Attraction of $15 million investments

At the end of December, 2020 the Chinese company Mech-Mind Robotics Technologies which develops industrial robots on the basis of AI attracted $15 million in a round of financing of the B+ series. The company is going to use the raised funds for acceleration of commercialization of the technologies and also for business expansion.

According to the report of the International federation of robotics, at the plants 2.7 million industrial robots are used worldwide. However only less than 1% from them are equipped with AI opportunities. Mech-Mind states that it became the first company, "connected AI and industrial robotics in real scenarios for automotive and metallurgical industry, hospitals and banks".

The developer of Mech-Mind Robotics Technologies robots attracted millions of investments

The Mech-Mind company was founded in 2016 and applies AI to creation of the robots executing laying, assembly, pasting and placement of different objects. Developers use technologies of deep learning, three-dimensional sight and planning of the movement for implementation of AI means in industrial automation. According to founders, the startup provides rapid development and profitable solutions for 200 clients from 10 countries, including China, Japan, South Korea, Germany and the USA.

Thanks to our solutions the robots capable to carry out tasks which were considered as very advanced and difficult earlier, for example, palletizing and unloading of pallets, maintenance of machines and also assembly or placement of products with visual control appeared, - the founder and the CEO of Mech-Mind Robotics Tianlan Shao explained.

In a new round of financing of Sequoia Capital China and Source Code Capital supported Mech-Mind Robotics. Founders consider that success of this round reflects "fast development, huge potential and excellent quality" of solutions of a startup.^[1]

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