XYZ Robotics, a Sinovation Ventures company, closed a $40million Series B+ financing, led by Capital Today and followed by Gaorong Capital,5Y Capital, and Source Code Capital. XYZRobotics has so far raised more than $100 million of investment.
Nero WANG, Executive Director of SinovationVentures, said that AI and automation-formed platforms can be applied to different industries with various technologies, and create huge economic value for enterprises by reducing costs and improving efficiency. As the Angel and Series Pre-A investor of XYZ Robotics, Sinovation Ventures has seen XYZ Robotics overcome the technical challenges of AI and automation, while iterating over products, landing in industrial and logistics scenarios such as automotive, 3C, e-commerce, and daily chemical through years of industry accumulation, it verifies the great social value in the "industry + AI" era. We also witnessed the transformation of tech talents turned entrepreneurs with ZHOU Jiaji and the core team. In this new round of financing, XYZ Robotics is expected to further expand its business and take the lead in the "+ AI" era.
The technology has been verified by complex tasks such as binpicking, mixed stacking, and 10000 SKU disassembly and sorting. The market share has soared last year and high-value customers repurchased rapidly, which contributed to the additional investments within half a year from senior shareholders such as Capital Today. After the completion of the financing, the post-investment valuation of the company has risen significantly to the quasi unicorn level leading this industry.
Focuson application scenarios and refine core technologies
Since its establishment in June 2018, XYZ Robotics has alwaysfocused on providing industrial 3D visual products (including motion planning function without teaching), logistics picking, and de-stacking workstations for logistics and manufacturing customers. Based on the three technical advantages of 3D vision algorithm and sensor design, motion planning algorithm, and code-free
and easy-to-use interface, the team has continuously refined the "hand-eye coordination technology" of robots in practical use cases, enabling system integrators to provide users with more intelligent robots, reducing costs and increasing efficiency.
Take bin picking, for example, the team has overcome thetechnical barriers in the industry, such as high reflective parts and objects with edges and corners which are difficult to empty. At the same time, the team has spare users from teaching robots how to move, which reflects the features of precision, high speed, and ease of use.
Committedto building a high standard and large-scale delivery system
Over the past year, XYZ Robotics has witnessed rapid developmentin its business with hundreds of projects implemented at home and abroad (United States, Japan, and other countries), covering industries including automobile, 3C, e-commerce, daily chemicals, medicine, clothing, consumer
goods, electronics and chemical industry, and winning the recognition of industry leaders.
These remarkable business progress not only benefits from thetechnical advantages of XYZ Robotics but also rely on the high-standard project management, delivery, training, and after-sales system established under the guidance of the enterprise value of "being realistic and pragmatic and pursuing the best". XYZ Robotics will continue to work with leading industrial chain integrators to jointly create a new generation of visual robots, intelligent, flexible, and agile, for customers.
ZHOU Jiaji, Founder and CEO of XYZRobotics, said: "In the past year, our team has made some achievements in key product R&D, market service response, and process operation efficiency. Our team has improved itself by working hard, practicing basicskills, and solving customers’ problems. Next, the company will put more efforts into R&D and market development, provide more professional services and easy-to-use products, and achieve our dual goals in building leading
technology and market reputation."