Tencent leads $820-mn funding round in Chinese robotics firm
Chinese robotics company UBTECH announced this week that it has raised $820 million in Series C round led by Tencent. The round, which also saw participation from other investors, valued the six-year-old company at $5 billion. Founded in 2012, the company develops consumer humanoid robots for entertainment and educational purposes, including Star Wars' Stormtrooper robot and a "robotic butler".