Japanese Robotics startup Telexistence secures $160M, partners with Softbank, Foxconn


Tokyo-based Telexistence, the Japanese startup developing remote-controlled robots, announced on Friday that it has secured about 23 billion yen (about $160 million US) in a series B round. Participating investors in this round are Monoful Venture Partners, KDDI Open Innovation Fund, Airbus Ventures, Softbank Group (TSE: 9984), Foxconn, and Globis Capital Partners (GCP).

Monoful Venture Partners, KDDI Open Innovation Fund, and Airbus Ventures followed their previous investments in Series A1 and A2 rounds. The latest round brought the robotics startup’s funding sum up to over 27.5 billion yen ($190 million US).

Telexistence also secured a strategic partnership with Softbank Robotics Group (SBRG) to promote its robotics business in North America and other regions. In addition, Telexisistence will collaborate with Foxconn to establish mass production technology for the startup’s next model GHOST. In conjunction with the funding, Telexistence invites Kenichi Yoshida of SBRG and Ryohei Nomoto of GCP to the company’s board of directors.

Telexistence is developing remotely controlled robots using a variety of technologies, including robotics, telecommunications, VR, tactile sensation, and AI. TX SCARA, the company’s current model, is known for having installed in many FamilyMart convenience stores in Japan. Demand for these robots is increasing in Japan where manpower is in short supply, and in North America where labor costs are skyrocketing after COVID-19.

via PR Times