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Service robots shine at trade fair in Shanghai

SOURCE / COMPANIES By Global Times Published: Apr 15, 2021 09:58 PM Visitors look at a service robot at the 21st China International Industry Fair in Shanghai. Photo: VCG Imbued with technology from both high-end manufacturing and artificial intelligence (AI), China s service robot sector is poised to usher in a golden period, as shown at the 8th Shanghai (China) Technology Fair, where firms showed off their latest products and technologies. Held in the Shanghai World Expo Exhibition & Convention Center from Thursday to Saturday, the exhibition covers an area of 35,000 square meters with more than 1,000 exhibitors, setting records despite the COVID-19 pandemic, according to the organizer. 

Chinese robot developer CloudMinds bags over $153m in a Series B+ round

Chinese robot developer CloudMinds bags over $153m in a Series B+ round April 9, 2021 Chinese robot developer CloudMinds Technology Inc has garnered over $1 billion yuan ($153 million) in a Series B+ round of financing, it announced on Friday. The transaction was jointly led by Shanghai Chengtou Group and Guosheng Group, which are investment arms of the Shanghai local government.  The $153 million Series B+ round comes as CloudMinds, which has a US unit, suffered serious setbacks amid the Sino-US trade war. CloudMinds was blocked from transferring US-origin technology to its China business in March 2020. At the time, the company was also wooing investors for a planned initial public offering (IPO) in the US.

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