Japanese venture capital firm Global Brain has led an investment in Connected Robotics, a cooking robot service provider, through its GB-VII Growth Fund Investment Limited Partnership (GB-VII) and 31VENTURES Global Innovation Fund I, according to an announcement.
Financial terms were undisclosed but an AVCJ report pegs the Series A round investment value at JPY8.5 billion ($7.8 million). The round also saw the participation of 500 Startups Japan, now known as Coral Capital, following a spin-out earlier this year – and the corporate venture arms of Sony Corporation and Mitsui Fudosan, the report added.
Connected Robotics provides solutions that use deep learning technology to make robots in kitchen intelligent.
It aims to develop robot systems that bear the brunt of kitchen work, leaving staff to concentrate on other customer-focused areas.
“Global Brain decided to invest in Connected Robotics because of their advanced development technology for cooking robot systems and market potential. We will fully support the company’s business growth, and we expect them to keep contributing labor shortage issue in the food industry,” the firm said in the announcement.
Recently, Global Brain invested in Tokyo-based crowdfunding platform operator Campfire through its GB-VII. Global Brain and KDDI Corporation is said to have co-invested JPY2.2 billion ($20 million) in Campfire’s Series C round.