Taiwan-based manufacturing giant Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), has invested in Japanese robotics start-up Telexistence Inc (TX) by participating in its latest round of fundraising, with plans to work with it to jointly produce the next-generation robot model: “Ghost.”
Telexistence said in a statement yesterday that it completed its Series B round of fundraising, securing US$170 million.
In addition to the lead investors in previous funding rounds, such as Monoful Venture Partners, KDDI Open Innovation Fund and Airbus Ventures, Telexitence said it has also secured financial support from HH-CTBC Partnership, Softbank Group (SBG) and Globis Capital Partners.
Photo: Ann wang, Reuters
HH-CTBC Partnership is also known as Foxconn Co-GP Fund, which was set up by Hon Hai and Taiwan’s CTBC Financial Holding Co (中信金控).
However, Telexistence, a developer of remote-controlled robotics, did not disclose other financial details about the latest funding round.
After obtaining funds from Hon Hai, Telexistence would initiate its collaboration with Hon Hai to establish a production technology to carry out commercial production for its next-generation robotics model, “Ghost,” the company said.
In addition, Telexistence entered into a strategic business partnership agreement with Softbank Robotic Group Corp, a subsidiary of Softbank Group, to promote their business collaboration globally, with a focus on accelerating commercialization in North America, it said.
“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,” Telexistence CEO Jin Tomioka said in the statement.
“With this latest funding, we aim to amplify our search for top, diverse talent to enhance our global capabilities at scale,” Tomioka said.
Telexistence, which was established in 2017, in 2021 announced a partnership with FamilyMart, one of the three largest convenience store chains in Japan, where it deployed robots to 300 FamilyMart stores across the country.
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
RSS