China Roundup: SoftBank joins $188m round in robot firm, and more

SoftBank joins US$188 million round in robot startup

• Gaussian Robotics raised the fresh funds from investors including Capital Today, SoftBank Vision Fund 2, and Meituan as part of its series C financing round.
• Currently, the startup’s commercial robots are being sold in over 40 countries, with a total clean mileage of 150 million kilometers.
• Founded in October 2013, Gaussian Robotics builds delivery and cleaning robots for hotels and offices. It has set up four research and development centers in Beijing, Shanghai, Suzhou, and Singapore.

Tesla rival Nio widens quarterly loss due to supply chain issues

• Nio’s net loss stood at US$447.4 million in Q3, up 140.7% from a year ago. Meanwhile, its revenue spiked by 116.6% to hit US$15.2 billion.
• The company faced production issues that led to a severe downturn in October, when the company delivered less than 4,000 vehicles while making changes to manufacturing.
• Nio expects to deliver between 23,500 and 25,500 vehicles in the fourth quarter of fiscal year 2021 despite facing supply chain challenges.