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Tencent Leads $820 Million Investment in Robot-Maker Ubtech

Ubtech produces consumer humanoid robots for business, entertainment and educational purposes. Photo: VCG
Ubtech produces consumer humanoid robots for business, entertainment and educational purposes. Photo: VCG

Shenzhen-based artificial intelligence (AI) and humanoid-robotic company Ubtech Robotics Inc. Thursday completed fundraising of $820 million, led by internet giant Tencent Holdings Ltd.

The funding round valued 6-year-old Ubtech at $5 billion. Ubtech founder and CEO Zhou Jian said the company will use the capital to enhance research capacity, expand in overseas markets and recruit talent.

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