Chinese industrial robot maker Jaka Robot said on Monday it has raised $15 million in its Series B fundraising and aims to expand as the world's second largest economy sets sights on upgrading the advanced manufacturing sector.
Asian private equity firm led the round of funding, the Shanghai-based startup said in a statement without disclosing the identity of other investors. Monday's funding came about a year after its Rmb75 million $11.2 million Series A fundraising.
Jaka said the proceed this year will be used to expand its sales both domestically and internationally, with more focus on consumer electronics, medical instrument and car component manufacturing. ...
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