SoftBank Invests in Youibot, a Chinese Robotics Firm

A significant investment has been made by SoftBank in the rapidly expanding Chinese industrial robotics sector. Youibot, a startup established four years ago specializing in autonomous mobile robots for diverse applications, has successfully secured approximately 100 million yuan ($15.47 million) in its most recent funding round.

This funding round was spearheaded by SoftBank Ventures Asia, the early-stage investment division of the global investment firm, based in Seoul.

Previous Investments and Growth

Notably, SoftBank Ventures Asia also led a financing round in December for KeenOn, another Chinese robotics company concentrating on delivery and service robots.

Existing investors, including BlueRun Ventures and SIG, also contributed to Youibot’s latest funding. The company, which completed the SOSV’s HAX hardware accelerator program in Shenzhen, benefited from a surge in interest in industrial automation during 2020.

This trend was driven by businesses and investors seeking to reduce human contact. To date, Youibot has accumulated over 200 million yuan in funding.

Youibot’s Technological Focus

Youibot was founded by a team holding PhDs from the esteemed Xi’an Jiaotong University in China. The company develops robotic solutions for factory automation and logistics management.

Their offerings also extend to inspection and maintenance services across various industries. For instance, their robots can autonomously navigate a bus depot, thoroughly inspect each tire, and generate a comprehensive maintenance report.

This capability was instrumental in securing a contract with Michelin.

Key Industries and Revenue Streams

According to a company spokesperson, Youibot’s core strengths lie within the electronics manufacturing and electric power patrol sectors.

The startup is also experiencing substantial growth in the semiconductor industry, serving clients from several leading front-end wafer fabrication facilities. These facilities utilize Youibot’s robots for chip packaging, testing, and wafer production.

Due to confidentiality agreements, the names of these clients have not been disclosed.

Among Youibot’s publicly named Chinese clients are CRRC Zhuzhou, a state-owned locomotive manufacturer, Huaneng Group, a major state-owned electricity generator, and Huawei.

Currently, China accounts for 80% of Youibot’s total revenue, with international markets demonstrating rapid expansion. The firm’s revenues tripled in the past year compared to 2020.

Future Plans

The newly acquired funds will be allocated to research and development of its mobile robots and proprietary software.

Investment will also be directed towards team expansion and broadening market reach.