China Roundup: SoftBank leads $200m round of robotics company, and other news

Robotics company Keenon secures US$200 million funding

• Lead investor: SoftBank Vision Fund 2
• Other investors: China International Capital Corporation (CICC) Alpha (an investment platform of CICC) and Prosperity7 Ventures (a growth fund of Aramco Ventures)
• Stage: Series D
• About the startup: Founded in 2010, Keenon is an artificial intelligence company that created robotics solutions for several use cases, including food delivery, hotel services, and various tasks within hospitals. The Shanghai-based company currently has a presence in Europe, South Korea, Singapore, and the US.

Food delivery robot maker PuduTech bags US$78 million in series C2 funding

• The funding saw participation from Shenzhen Investment Holdings, Sequoia Capital China, and food delivery giant Meituan.
• In May this year, PuduTech raised another US$78 million of funding for its series C1 round.
• Since being founded in 2016, PuduTech has applied for over 600 patents involving positioning, navigation, and motion control. The company has also expanded its presence to over 60 countries.

Foxconn puts electric vehicle collaboration with China’s Byton on hold

• According to sources, Foxconn made the decision due to Byton’s worsening financial situation.
• Both companies announced the partnership in January, which was set to see Byton’s first electric vehicle model mass produced by the first quarter of 2022.
• The report says that Foxconn is now focusing on other ongoing electric vehicle projects, such as its joint venture with Thai oil and gas company PTT.

JD.com to open its first offline shopping center called JD Mall

• The mall is set to open on September 30 in Xi’an, the capital of Shaanxi Province in central China.
• In a statement, JD.com said the mall gives consumers the opportunity to touch and test products in store before making their purchases online.
• The mall will also be equipped with tech-enabled features such as holographic projection capabilities, VR equipment, intelligent robots, and a virtual live broadcast room.