Shanghai-based service robot manufacturer Keenon Robotics announced that it had completed its B round of financing at the end of 2019. The round was led by Source Code Capital and followed by Walden International and Shanghai Science and Technology Fund. The firm’s older backers Yunqi Capital and iVision Ventures also contributed to the round.
Keenon Robotics plans to use the investment to scale in the domestic catering market, expand into overseas markets, and develop new business directions, such as medical care robots.
In 2016, Keenon Robotics completed its A round of financing, led by Yunqi Capital and Pine VC. In February 2019, the company raised a Pre-B round of financing with Yunqi capital following up on its previous investments. Keenon Robotics revealed to the Chinese tech media outlet 36Kr that the company bagged a combined total of around 200 million as a result of the Pre-B round raised in February 2019 and the most recent B round of financing.
China is currently awash with young companies developing autonomous service robots, most of them still in the round A or B stage of development. Founded in 2010, Keenon Robotics focuses on the research and development of autonomous indoor distribution robots, which can be used in restaurants, hotels, medical facilities, warehouses, etc. At present, the company is developing robots capable of operating in hot pot restaurants.