Flexiv Ltd. world-leading general-purpose robotics company has closed an over 100m USD Series B round with major investors including Meituan, Meta Capital, New Hope Group, Longwood, YF Capital, Gaorong Capital, GSR Ventures and Plug and Play, marking the largest single-round fundraising ever in the field of general-purpose robotics.
Shiquan Wang, Co-Founder and CEO, Flexiv said: “The strategic funding from leading companies and funds in various industries will mainly be used for mass production and marketing, new market development, and cutting-edge R&D. We will continue focusing on automation transformation of the manufacturing industry, while exploring new applications in a broader range of industries including services, agriculture, logistics, medical care, and so on. With business opportunities from new investors that cover almost every industry, we will be able to develop and refine our products and robot AI in a diversity of real application scenarios, which greatly benefits our development of the most advanced general intelligence and robotics technology.”
With its state-of-the-art technology and highly cost-effective solutions, Flexiv has received repurchase orders from several renowned clients in the automotive, 3C electronics, and Internet industries across China, North America, Europe, and South Korea.
Flexiv’s earliest investor, Richard Lim, Managing Director, GSR, said: “Flexiv’s breakthrough in cutting-edge technologies for general robotics has pushed the boundaries of industrial automation and intelligence. The team has great industry perspectives and research capabilities. We are delighted to have worked together with Flexiv when they were initially founded at Stanford University and look forward to supporting their efforts to make intelligent robotics an integral part in different industries.”
Bin Yue, Founding Partner, Gaorong Capital, said: “Flexiv developed adaptive robots with sophisticated force control system and cutting-edge AI technology that mimic human behavior, bringing the versatility and intelligence of robots to a whole new level. Notably, Flexiv has now achieved mass production and successfully validated its customer value and core business model. We believe that Flexiv’s products will bring unique value to a much broader range of application scenarios, and effectively accelerate the transformation and automation in different industries.”
Flexiv researches and develops key proprietary technologies in-house, including robotic manipulator hardware, servo control system, force/torque sensors, robotic operation and development system and different types of algorithms. This ensures the product’s distinct advantages and outstanding performance.
Oussama Khatib, Chair of IFRR and Director, Stanford Robotics Lab commented: “I’m very pleased to see that Flexiv has paved a unique path of robotic hardware and software technologies to bring the capability of force control robots to real world applications. The Rizon robot, which establishes an effective fusion of advanced force control and cutting-edge algorithms, represents a major milestone for future robotics development.”