Chinese industrial robots developer JAKA Robot has raised $15 million in a Series B round led by private equity firm SAIF Partners.
The Shanghai-based company did not disclose the names of other strategic investors who participated in the funding round. Huaxing Alpha acted as the financial advisor and facilitated the transaction.
JAKA Robot, created in 2014 at the robotics lab of Shanghai Jiao Tong University, will use part of the funds to strengthen its presence in the domestic market and expand its foreign distribution network. It will also allocate some capital to research and development.
JAKA Robot currently employs over 100 engineers and 10 robotics experts at two R&D centres in Shanghai and its production bases in Suzhou and Changzhou.
The company’s signature product is a collaborative robot called Jaka Zu, which can be used in the chemical fibre, automotive parts and food industries.
Collaborative robots have the ability to work with humans safely as they are equipped with an advanced security system.
In March 2018, the company raised $8.92 million in a Series A+ from F&G Venture, a Chinese venture capital firm focused on investments in the IT industry. Prior to that, in 2017, JAKA raised $15 million in a Series A round from private equity firm Hejun Capital.