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Recently, Jingwu AI, a commercial robot company based in China, received another 10 million yuan ($1.57 million) in round A of financing. The round was was invested by SOSV-SCGC China Fund while Extremex Capital continued to serve as the exclusive financial consultant. The proceeds of this round of funding will be mainly used for product R&D and market expansion.
Jingwu AI, founded in 2019, mainly focuses on the development of hotel robots and works to provide customers with robots and system solutions to reduce overall costs and increase income. At present, the company has formed two product lines concerning hotel delivery robots and cleaning robots. Next year, the company will start to expand its operations overseas, giving priority to Japan, Europe and Dubai, three countries and regions with higher labor costs and demand.
According to the International Federation of Robotics (IFR), in 2020, the global sales of professional service robots will total over $13.9 billion, up 24% year-on-year. It is estimated that by 2023, sales will increase to $27.7 billion, with an annual growth rate of 26%.
In order to cope with increasing market demand, Jingwu AI launched a hotel delivery robot in 2019 which was capable of realizing basic functions such as automatic delivery, guidance and explanation. The robot was also able to complete functions regarding retail operations, security, and temperature measurements. The device was able to manage an average daily delivery of 70-80 orders, and had a delivery success rate exceeds 99.8%.
At present, the company’s delivery robots have reached extensive cooperation with chain groups such as Home Inn, Jinjiang and Huazhu, as well as hotels such as the Marriott and Hilton.
Jingwu AI released a cleaning robot for hotel bathroom solutions in August this year, which had multiple functions and multi-perception ability. The robot features arms for different cleaning targets, such as scrapers, cleaning balls, rags and other cleaning products.
The company’s cleaning robot shortens the time needed to clean a hotel bathroom from 25 minutes to only 15 minutes with human-machine cooperation.
The AI cleaning robot utilizes five core technologies, including force control recognition, visual recognition, robot arm motion planning, deep learning, and the autonomous construction of HD maps and automatic navigation in unknown environments based on laser scanning and vision.
SEE ALSO: Mobile Robot Company ForwardX Robotics Secures Nearly $31.4 Million in C Round Financing
More and more companies are betting on the field of robots. Companies include PUDU Technology, Keenon, Yunji Technology, Uditech and others in the field of service robots as well as Gaussian Robotics and iClean Robotics in the field of commercial cleaning robots.
AI application company Singularity Systems Inc. announced on Friday it has received investment of tens of millions of dollars in an A+ round of financing.
AI application company Singularity Systems Inc. announced on Friday it has received investment of tens of millions of dollars in an A+ round of financing.
On Thursday, Galaxy Future, a cloud native basic engine provider established less than half a year ago, announced that it had completed an angel investment round worth tens of millions of dollars.
On Thursday, Galaxy Future, a cloud native basic engine provider established less than half a year ago, announced that it had completed an angel investment round worth tens of millions of dollars.
DERA Technology Co., Ltd., an R&D company dedicated to the development of semiconductor storage, recently completed its C-round financing worth nearly 1 billion yuan ($157 million).
DERA Technology Co., Ltd., an R&D company dedicated to the development of semiconductor storage, recently completed its C-round financing worth nearly 1 billion yuan ($157 million).
On Wednesday, XAG, a domestic agricultural drone manufacturer, released several new products including the P100/V502022 agricultural unmanned drone, R150 agricultural unmanned vehicle, and more.
On Wednesday, XAG, a domestic agricultural drone manufacturer, released several new products including the P100/V502022 agricultural unmanned drone, R150 agricultural unmanned vehicle, and more.
Knowin, a one-stop trends and lifestyle brand for Gen Z, announced on Thursday the completion of a new round of financing worth several hundred million yuan.
Knowin, a one-stop trends and lifestyle brand for Gen Z, announced on Thursday the completion of a new round of financing worth several hundred million yuan.
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