Shandong UBTECH Intelligent Robot, a China-based robotics company, said on September 3 that it had completed an A+ financing round of about 100 million yuan (US$13.9 million), led by Dongzheng Capital.

Jinan Xianxing Investment Group and Zibo High-tech Zone Venture Capital became new shareholders through the round, the company said.

Legend Star which invested in the company’s angel round, also participated with an additional investment.

UBTECH said it will use the proceeds for technology upgrades and product development for a new generation of high-power-density integrated joint modules, industrial-operation and consumer-grade humanoid robots.

It will also develop heavy-load and explosion-proof quadruped robots.

The company said the latest round brought its cumulative financing to several hundred million yuan.

🔗 Source: Security Times