Tencent Leads $820 Million Investment in Robot-Maker Ubtech
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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