Chinese industrial robotics company RobotPlusPlus has raised tens of millions of US dollar in a Series C round led by Qianggang Capital Fund, as the company seeks to expand overseas and develop its embodied artificial intelligence technology.
GIG Capital Group, Sealand Innovation and Juntong Capital also participated in the round, while existing investor Fosun RZ Capital increased its stake, according to a statement on Tuesday. The company did not disclose the exact size of the financing.
Beijing-based RobotPlusPlus develops robots for hazardous working-at-height environments, including shipyards, oil and gas facilities, wind farms and building facades. Its hull-derusting robots have been deployed at more than 100 shipyards and worked on more than 10,000 cargo vessels, according to the company.
The company said its robots can improve efficiency by 5-6 times and reduce overall costs by 30-50% compared with manual methods.
RobotPlusPlus operates in more than 18 countries and counts NOSCO Shipyard, Drydocks World, ST Engineering Marine, Saudi Aramco and Vopak among its customers and partners, it said. More than 60% of its workforce is focused on research and development, with R&D spending exceeding 20% of revenue for three consecutive years.
The company has accumulated more than 2 million hours of robot operations, generating data that it says is being used to develop AI models for complex industrial environments.
The latest financing follows Fosun RZ Capital’s initial investment in RobotPlusPlus in 2022 and comes as the company expands beyond ship-hull derusting into other industrial applications.
Qianggang Capital said RobotPlusPlus has moved from individual robots towards industrial-grade embodied intelligence and integrated system solutions, with the potential to build a broader platform for autonomous industrial operations.
