Leading robotics and AI company Flexiv raised more than $100 million in its Series B funding today for its adaptive robot Rizon. The round was led by popular Chinese investors like food delivery platform Meituan (美团), Jack Ma’s YF Capital (云锋基金), Chinese agricultural company New Hope Group (新希望), and Meta Capital (元知资本).
Founded in 2016, Flexiv focuses on developing and manufacturing adaptive robots that integrate force control, computer vision and AI technologies. Flexiv provides innovative turnkey solutions and services based on Flexiv robotics systems to customers in multi industries.
The firm’s adaptive robot Rizon was launched last year as a new generation of robotics products. With the advanced whole-body force control algorithm applied to the adaptive robots, Rizon upgrades the force perception and force control performance by orders of magnitude from traditional robots. Awarded the iF Design Award and honored at the German Innovation Awards, Rizon has innovative and aesthetic product design and unique adaptivity.
Wang Shiquan, the founder of Flexiv, believes the company’s cutting-edge robotics technology and industrial applications based on adaptive robots will distinguish the brand from existing players.
“Conventional robotic arms can safely perform tasks when there are no barriers around, but they are less capable of operating in complicated environments… Many seemingly simple tasks such as washing dishes actually require a lot of AI-based recognition and decision-making power,” said Wang in an interview with TechCrunch.
Flexiv is aiming to expand its key market in North America. “Each country has its own competitive edge in robotics,” Wang said. “China’s advantage is in manufacturing, supply chains, and labor costs.”
With the new capital, the firm is planning to implement its AI-driven, general-purpose robots in other areas such as food delivery services, agriculture, logistics and medical care. “Flexiv will continue to innovate and explore product technologies to make robots more dexterous, intelligent, flexible, and universal, and facilitate the next generation of industrial automation,” said Wang.