Tag Archives: Ubtech

Star Wars robot-maker Ubtech raises $400 million at unicorn valuation 

Commentary

Shenzhen-based Ubtech scored the biggest funding round last week. It raised a $400 million Series C round led by tech giant Tencent at a $4 billion to a $5 billion valuation.  But the unicorn robotics company isn’t geared for industrial automation.  Instead, it’s driven to create humanoid robots to the consumer market.  Since 2012, Ubtech has developed consumer robotic products like the Alpha family entertainment robot series and Jimu educational robot kits. Ubtech’s latest creation is a Star Wars Stormtrooper Robot, which is equipped with voice command and facial recognition features. The company has also helped building Amazon’s intelligent robot Lynx. According to International Federation of Robotics (IFR), the household robotic market is projected to grow to $22.4 billion in 2019.