Flexiv, a Chinese robotics company that focuses on developing adaptive robots, recently clinched the series B round deal of 100 Million USD from major world investors: Meituan, Gaorong Capital, meta Capital, Longwood, YF Capital, and several other investors. The head investor to fund is Meituan. This funding from leading investors paves. The way for leading Research & development, marketing, and deployment of their solutions to various food delivery firms. Which principally have high-volume tasks. The company majorly carries out its manufacturing and supply chain operations in China itself. However, works accordingly to the best-suited environment for its other operations.
Flexiv is a leading company that mainly works on robotics and artificial intelligence for the manufacturing of human-driven and automated robots. It started its operations in 2016 and provides various services to its end-to-end customers. Flexiv has multiple offices in Silicon Valley, Beijing, Foshan, Shenzhen, and Shanghai.
The co-founder and CEO of Flexiv, Shiquan Wang, also expresses his thoughts on the latest funding. He said that now Flexiv will expand its services by automating the manufacturing industry and diversifying its solutions according to real-world scenarios. Apart from that, it will also become a core solution for their R&D and market development as their recent investors cover a wide range of industries.
As the CEO said, this is the company’s plan in the upcoming 6 months to pave a long way for its robotics and software solutions. It plans to make every result automated and eradicates the traditional method in a further period. Now, it will work on transforming production and supply lines. Which requires very high accuracy and a smooth process for manufacturing. Robots constructed earlier would also have a significant modification i.e. They can now respond and adjust to new situations by having computer vision and feedback systems embedded. This will surely help in saving time and money.
Earlier in 2019, Flexiv got 22 million USD in funding, and with the help of that. It completed its first A+ series. Flexiv launched its first robot, Rizon in April 2019, and for that. It received the IF Design Award and German Innovation award for its unique and innovative design. Previously, Flexiv also received investment from GSR Managing Director, Richard Lim. Who once said praising Flexiv and that they feel delighted to work with Flexiv and always look forward to supporting them in making robotics, an essential part of different sectors. And Flexiv has performed beyond the limits in terms of automation and Artificial Intelligence.
Some of the Recent investors in the 100 Million USD deal are Meituan, Gaorong Capital, and Meta Capital have also expressed their views on Flexiv’s immensely successful work and their reason to invest in Flexiv. Bin Yue, founder of Gaorong Capital said “We Believe that Flexiv’s products will bring unique value to a much broader range of application scenarios. Effectively accelerate the transformation and automation in different industries.”
Now the main challenge lies in locating customers who can experience their cutting-edge technologies. And that one has to see how Flexiv will tackle this in the long go.
