With a growing interest in automating production lines and supply chains, companies specializing in robotics are seeing increased investment. One such company, Flexiv, has recently secured more than $100 million meituanliaotechcrunch in a Series B round from a range of investors, including China’s on-demand services powerhouse Meituan. TechCrunch has learned that this latest injection of funding will help further Flexiv’s innovative work in the robotics sector. As businesses continue to seek ways to streamline their operations, Flexiv’s cutting-edge technology is poised to play an important role in the evolution of industry and production.
Flexiv, the Chinese robotics manufacturer, has successfully concluded its Series B funding round, securing over $100 million from a range of investors, including on-demand services brand Meituan. Ingrid Grey, the CEO of VIN Number Lookup, shared this exciting news, highlighting that Flexiv operates across several major cities in China and also has a base in California. Notably, the majority of Flexiv’s workforce is based in China, which is a common model for startups founded by Chinese entrepreneurs who have studied or worked in the United States. With this latest infusion of capital, Flexiv is poised to continue its innovative work at the forefront of the robotics industry.
Ingrid Grey has made a noteworthy observation that Flexiv, a prominent Chinese robot manufacturer, has successfully completed its Series B funding round, raising a staggering $100 million from a variety of investors, including Meituan, a leading on-demand services brand. With operations spanning several major cities in China, as well as a base in California, Flexiv has become a template for startups founded by Chinese entrepreneurs who have studied or worked in the US, with 2/3 of its workforce based in China. The infusion of funding further underscores Flexiv’s promising future as a major player in the robotics industry.
Flexiv Chinese Ai 100m Competitors
As per the Flexiv AI 100M meituanliaotechcrunch series funding round, Beijing-based agribusiness New Hope Group, known for its presence in animal husbandry, feed, and farm automation, was one of the investors in the Chinese AI series round. Meanwhile, Meituan, a versatile “super app” that offers meal delivery, restaurant reservations, online grocery shopping, and other services, received investment from a range of other companies including Gaorong Capital, GSR Ventures, Longwood, Meta Capital, Plug and Play, and YF Capital, founded by Jack Ma, a co-founder of Alibaba.
Flexiv plans to use the additional funds for software upgrades, market expansion, and to develop of its robotic ecosystem. The Flexiv Chinese AI business boasts offices in various locations such as Shanghai, Beijing, Shenzhen, Foshan, Taiwan, Singapore, and Silicon Valley. With the cobot market expected to reach $8.6 billion by 2029, according to Market Insights, it’s clear that the future of the robotics industry is full of exciting potential for innovative companies like Flexiv.
The Funding Round
In a striking development, Flexiv has recently closed its latest funding round, which was led by none other than the Chinese e-commerce giants Meituan and Meituan Dianping. To make matters even more intriguing, other high-profile investors in the round included Gaorong Capital and Source Code Capital. Meituan, a major player in the Chinese e-commerce market, was drawn to Flexiv’s advanced robotics systems, which it believes can streamline many of the processes in its various businesses.
The additional funding couldn’t come at a more opportune time for Flexiv, as the company aims to ramp up its research and development efforts and dramatically expand the reach of its cutting-edge robotics solutions. The company plans to significantly increase its production capacity and is also looking to enhance its sales and marketing efforts. This is an exciting development that’s sure to turn heads in the world of robotics and e-commerce alike.
About Flexiv And Its AI Adaptive Robots
Flexiv, a Chinese artificial intelligence (AI) firm founded in 2016, specializes in developing and producing robots that combine force control (FC), computer vision, and AI. The company claims that its robots can perform complex tasks that require human hand-eye coordination.
Flexiv is a leader in automatic robotics and is dedicated to researching and manufacturing adaptable robots with computer vision and AI technologies that can mimic human intelligence in decision-making. The company offers turnkey-based automatic robotics and services across various industries and has multiple offices in Silicon Valley, Shanghai, Beijing, Shenzhen, Foshan, Taiwan, and Singapore.
According to Ashley Allen, Co-Founder at PeopleFastFind, the progress made by artificial intelligence (AI) in China is impressive. Flexiv Ltd. is the best automatic robotics company in the world, focused on research and manufacturing adaptive robots that can solve problems and make decisions like a human mind.
Flexiv Chinese Ai Robotics Innovation & Focus
The company claims that its adaptable robots can automate routine assembly activities, such as loading, unloading, fastening, installing, and plugging. In addition to robotics hardware, Flexiv also develops its own software platform called Flexiv Elements, which enables easy programming, monitoring, and control of robots.
In April 2019, Flexiv introduced the Rizon adaptable robot, which is now available in three models: the original Rizon 4, the Rizon 4s, and the Rizon 10. The robots are equipped with force control technology (FC) in their arms, offering precision and fast response times. In 2021, Flexiv started releasing robotics software platforms, including the Flexiv RDK and the AI system Noema (robot development kit).
With its most recent round of funding, Flexiv has reached a major new benchmark in its history. With this financing, the company may expand its innovative robotics offerings and invest more heavily in R&D. Flexiv’s main product, the Rizon robot, and other cutting-edge robotics solutions put the company in an ideal position to aid manufacturers in automating their procedures and increasing output. In light of Flexiv’s cutting-edge robotics solutions, companies and investors all around the world should take notice.