Telexistence, a Tokyo, Japan-based robotics startup, has raised $170 million in a Series B funding round led by SoftBank.
Other participants in the funding round include Airbus Ventures, Monoful Partners, KDDI Open Innovation Fund, a fund set up by Foxconn and CTBC Financial Holdings, and Globis Capital Partners.
With the new funding, Telexistence plans to expand its workforce globally. In addition to the funding, the company has formed a strategic partnership with SoftBank Robotics Group to accelerate commercialization in North America.
Telexistence will also collaborate with Foxconn for the production of its next-generation robot called "Ghost." As part of the investment, Kenichi Kent Yoshida from SoftBank Robotics Group and Ryohei Nomoto from Globis Capital Partners will join Telexistence's board of directors.
“With the proud backing of our new partners SBG and Foxconn, TX increases its commitment to accelerate the rapid expansion of its existing robot operations and drive the development of robots with human-level versatility, which is the goal of anyone involved in robotics.“ said Jin Tomioka, CEO of Telexistence. “With this latest funding, we aim to amplify our search for top, diverse talent to enhance our global capabilities at scale.” Tomioka added, “Regardless of nationality, age, or length of tenure, TX believes that there are countless opportunities for individuals with demonstrated skills to thrive, and in fact, current team members hail from 25 different countries. TX adheres to the organizational principle of providing compensation, including salaries and stock options, that is commensurate with performance to the greatest extent possible.”
Company: Telexistence, Inc.
Round: Series B
Funding Month: July 2023
Lead Investors: SoftBank
Additional Investors: Airbus Ventures, Monoful Partners, KDDI Open Innovation Fund, a fund set up by Foxconn and CTBC Financial Holdings, and Globis Capital Partners
Company Website: https://tx-inc.com/
Software Category: AI-powered Robotic Arms
About the Company: Founded in 2017, Telexistence focused on developing AI-powered robotic arms for the retail and logistics industry. With the mission to change robots, change structures, and change the world, they develop remote-controlled robots with artificial intelligence. Telexistence develops hardware, software, AI, and teleoperation technologies consistently in-house. The company’s goal is to expand the scope of robots’ activities beyond the factory and to revolutionize the fundamental nature of labor society.