Chinese companion ‘robot’ AI Nemo raises over $10M series B

Chinese tech site Lieyunwang is reporting that A.I. Nemo, a Chinese startup that produces what it calls a “robot companion” for homes, has raised a series B round in excess of US$10 million. The precise sum of the round and its investors include Innovation Works, Lightspeed China Partners, Chengwei Capital, and Foxconn.

A.I. Nemo is a hardware startup that produces what it calls a smart robot companion. In actuality, it’s basically a small desktop computer with a very nice webcam and some automated panning abilities. The idea is that you put the thing – which costs RMB 2299 (US$370) – in your home and it’ll help you communicate with family members even when you’re not there. It can do video chats, of course, but it also does things like read aloud text messages, pan to track your kid around the room as they play, and send emergency notifications. It’s being marketed as a way to bring families closer together.

Users that aren’t at home can control the device through a mobile app, and will receive notifications from it on the app.

Prior to today’s funding announcement, Xiaoyu raised RMB 1.4 million (US$225,000) on Chinese crowdfunding site JD Coufenzi.

The device first went on sale earlier this month, but it’s not clear how well it’s selling yet. The company’s Taobao shop has very low sales numbers, but the device is also being sold directly on A.I. Nemo’s website and JD. There aren’t many similar gadgets on the market, but the A.I. Nemo could still be a tough sell since many potential users may feel they can get enough of the same “family closeness” effect simply through video chatting on the smartphones they already own.

On the other hand, the company’s heartstring-tugging ad is likely to strike a chord with many, especially among China’s older generations, who feel that family life in the Middle Kingdom isn’t what it used to be. Whether A.I. Nemo can use that feeling to get people to cough up nearly $400 for a fancy video chat gadget remains to be seen.

(Source: Lieyunwang)

This article was updated on May 28 to reflect new information regarding investors and crowdfunding status.