Singapore’s Temasek Holdings has led a new funding round in Rokid, a Chinese robotics start-up. Investors including Credit Suisse Group, CDIB Capital International, and existing investor IDG Capital also participated in the round, Rokid announced on its Wechat official account.
The company did not disclose the amount it raised, but Chinese media reports put the number at US$100 million. Rokid did not immediately respond to China Money Network’s inquiry to confirm the figure. The new round values the company at US$500 million.
Founded in 2014 by Misa Zhu (Mingming Zhu), formerly the head of Alibaba’s advanced technology research unit M-Team, Rokid is developing family service robots Rokid Allien shaped as a drop of water, as well as smart speaker Rokid Pebble. The company also launched an augmented reality glass RokidGlass last week during the CES 2018 show.
Three AI start-ups in China have raised significant capital last year. China Money Network’s 2017 In Review: China’s 30 Largest Venture Capital Deals show that AI companies including SenseTime, Face++ and Ubetch raised massive rounds of over US$400 million.
Rokid previously raised a US$65 million series B funding round in 2016 from Advantech Capital Partners Ltd., IDG Capital Partners and Walden International. One year prior, it completed a series A round worth tens of millions of U.S. dollars from Walden International.
In 2014, the company also received a US$8.3 million angel round from IDG, Mfund, Linear Venture. It plans to use the latest proceeds to invest in research and development and recruit new talents.