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Chinese robotics startup MegaRobo nets $65 million from WuXi AppTec
MegaRobo, a Chinese startup focused on the development of robots and the Internet of Things, announced that it has received $65 million in the latest round of funding led by Hong Kong-listed pharma giant WuXi AppTec.
The other investors include Matrix Partners China, Sinovation Ventures, Bosch Venture Capital, Future Capital, Liando U Valley and Joy Capital. Since November 2020, MegaRobo has raised $125 million in total in the last six months.
The firm will use the fresh proceeds to bankroll the R&D and innovation of automation products and business capacity, and it will also advance the construction of its automatic robot laboratory.
Founded in 2016, MegaRobo develops application of robotics and AI in the life science industry, in addition, it also delivers new generation automation solutions for smart retail and lightweight manufacturing sectors. At present, the firm has served 112 clients and has delivered dozens of automatic systems and products such as motion control components, robots, MEGA cloud platform and robot laboratory system.
Last year, Matrix Partners China led $30 million in its Series B round, with the participation from Joy Capital, Sinovation Ventures, Liando U Valley and Bosch Venture Capital. And in February this year, it also completed a similar-sized Series B+ round financing from Matrix Partners China, Sinovation Ventures and Joy Capital.