Japanese robotics startup Telexistence has successfully raised $170 million in a Series B funding round, with major investments coming from SoftBank Group, Foxconn, and other prominent investors.
The Tokyo-based robotics startup has further strengthened its funding with investments from KDDI Open Innovation Fund, Airbus Ventures, Monoful Venture Partners, and new investors, including Globis Capital Partners and HH-CTBC Partnership.
This additional funding brings Telexistence‘s total funding to over $190 million (27.5 billion yen). The robotics firm has also formed a strategic partnership with SoftBank Robotic Group (SBRG) to expand its robotics business in North America and other regions. In addition, Taiwan-based Foxconn will collaborate with Telexistence to develop mass-production technology for their upcoming model, GHOST.
Telexistence, a robotics startup founded in 2017, specializes in developing AI-powered robotic arms for the retail and logistics sectors. The company’s current model, TX SCARA, has gained recognition for its widespread deployment in numerous FamilyMart convenience stores across Japan.
Telexistence’s AI-powered robotic arms have found applications in the retail and warehousing sectors, with deployments already in place in 300 FamilyMart convenience stores across Japan.
As the demand for automation rises in Japan due to labor shortages and in North America amid increasing labor costs post-COVID-19, Telexistence’s remotely controlled robots have garnered significant interest.
With fresh capital infusion, Telexistence plans to expand its workforce globally to support its growing operations. With the combination of funding, strategic partnerships, and technological advancements, Telexistence will continue driving innovation in the robotics field and meet the increasing demand for their AI-powered robotic arms.
“We are proud to have the support of our esteemed partners, SBG (SoftBank Group) and Foxconn, as we remain fully committed to accelerating the rapid expansion of our existing robot operations and advancing the development of robots with human-level versatility. This has always been our ultimate goal as pioneers in robotics,” stated Jin Tomioka, CEO of Telexistence.
Tomioka further emphasized, “With this latest round of funding, our primary focus is to attract top talent from diverse backgrounds to strengthen our global capabilities on a larger scale. We are determined to build a highly skilled and diverse workforce that will drive our innovation forward.”
In 2021, Telexistence forged a strategic partnership with FamilyMart, one of Japan‘s leading convenience store chains. This collaboration resulted in the deployment of Telexistence robots across 300 FamilyMart stores nationwide, showcasing the company’s commitment to integrating its innovative robotics technology into real-world applications.