Telexistence (TX) recently announced it has successfully raised a USD $170 million Series B round. Along with the follow-on investments from the lead investors in previous funding rounds, including Monoful Venture Partners, KDDI Open Innovation Fund, and Airbus Ventures, TX has also secured funding from new investors including SoftBank Group (SBG), HH-CTBC Partnership (Foxconn Co-GP Fund), and Globis Capital Partners (GCP).
TX also entered into a strategic business partnership agreement with SoftBank Robotic Group (SBRG), a subsidiary of SBG, to promote their business collaboration globally, focusing on accelerating commercialization in North America. And TX will initiate its partnership with Foxconn to establish production technology, carrying out mass production for its next-generation model “GHOST.” With this funding round, Kenichi “Kent” Yoshida (SBRG) and Mr. Ryohei Nomoto (GCP) will be newly appointed as directors.
Since being founded in 2017, TX has surged ahead from R&D and proof-of-concept with small-scale robots to deploying hundreds of its own robots in dynamic environments outside factories and executing at a commercial scale. And in 2021, TX announced a partnership with FamilyMart, one of the three major convenience store chains in Japan, through which the team is deploying its robots to 300 of FamilyMart’s stores.
KEY QUOTES:
“With the proud backing of our new partners SBG and Foxconn, TX increases its commitment to accelerate the rapid expansion of its existing robot operations and drive the development of robots with human-level versatility, which is the goal of anyone involved in robotics. With this latest funding, we aim to amplify our search for top, diverse talent to enhance our global capabilities at scale.”
“Regardless of nationality, age, or length of tenure, TX believes that there are cTomiokaountless opportunities for individuals with demonstrated skills to thrive, and in fact, current team members hail from 25 different countries. TX adheres to the organizational principle of providing compensation, including salaries and stock options, that is commensurate with performance to the greatest extent possible.”
— Jin Tomioka, CEO of Telexistence
