Manufacturing News from the Engineered Designer Perspective

Robotics Company Receives $820 Million in Funding

Robotics company UBTECH recently closed a massive deal which landed the company a sum of $820 million. The fund was led by Tencent, as well as various other investors. The company, which makes bipedal robots, debuted a robotic butler at CES in January and announced a release date of January 2019.

The company was founded in 2012, with a mission to bring robots into homes around the world. During the past six years, UBTECH introduced groundbreaking humanoid robots, including a Cloud-based intelligent humanoid service robot called Cruzr. The company’s bipedal Robot Walker gained global attention for its gait planning and motion control algorithms, computer vision, machine learning, emotion recognition, and simultaneous localization and mapping.

The goal of the company is to pioneer a future populated by affordable and intuitive robots that can perform various assistive functions.

According to CEO James Zhou, the company plans to utilize the funding to accelerate its vision. Tencent, who has previously worked with UBTECH to launch humanoid robot Qrobot Alpha, will work closely with the company on future product development.

“We are honored and gratified by this investment, the exceptionally high quality of our investors, and the strategic initiatives we will be able to launch as we innovate a new era of consumer robots,” said Zhou. “As technology evolves to include more voice and touch capabilities, people need new devices that communicate and interact more naturally and intuitively at home, at school, and at work. While trends in robots are developing, no company has yet stepped forward with the resources, vision, and products ecosystem to transform robot fantasy and fiction into robot reality. UBTECH is bringing this reality to life by expanding the possibilities for innovation.”

Together, UBTECH and Tencent are committed to building an ecosystem of services and content for intelligent, humanoid robots. Zhou has stated that the proceeds from the funding will be utilized for research and development, market and brand expansion, and talent recruitment. Plans were also laid out for each department’s needs and funding.

  • For research and development, UBTECH will increase investment in large-sized humanoid robots, humanoid robot servo, gait planning and motion control algorithms, computer vision, and more.
  • For market and brand expansion, UBTECH will accelerate its deployment in the global market and improve its brand awareness worldwide.
  • For talent recruitment, UBTECH will continue its plan to hire workers from around the world. UBTECH has already made key, global hires, including:
    • Professor Tao Dacheng from the University of Sydney as UBTECH’s Artificial Intelligence Chief Scientist
    • Professor Zhao Mingguo from Tsinghua University as UBTECH’s Humanoid Robotics Chief Scientist
    • Former IEEE President Howard Michel as UBTECH’s director
    • Jimmy Zhang as UBTECH’s CFO and Secretary of the Board of Directors
    • Michael Tam as UBTECH’s Chief Brand Officer
    • Inventor Tomotaka Takahashi as Chief Product Officer

 

Latest Stories

Pressure Used to Control Properties of Graphene Transistors

Pressure Used to Control Properties of Graphene Transistors

​An international team of researchers led by Columbia University has developed a technique for manipulating the electrical conductivity of graphene through compression. This discovery marks a significant step toward graphene’s viability as a semiconductor. The study, funded by the National Science Foundation and the David and Lucille Packard Foundation, was published in Nature. Graphene is…

NASA Plans to Send Robotic Helicopter to Mars in 2020

NASA Plans to Send Robotic Helicopter to Mars in 2020

​NASA has announced plans to send a small, autonomous flying machine, dubbed Mars Helicopter, alongside their new rover in the 2020 mission. The two will survey Mars, with the helicopter providing a bird’s eye view of the red planet. ​The helicopter will travel to Mars with the rover attached to its underbelly. Once they have…

Powering the Future through Protonic Ceramic Fuel Cells?

Powering the Future through Protonic Ceramic Fuel Cells?

Researchers from the Colorado School of Mines have discovered that protonic ceramic fuel cells exhibit long-term durability and fuel flexibility needed for a viable alternative fuel source. The study involved testing eleven different types of fuels: Hydrogen Methane Domestic natural gas with hydrogen sulfide Domestic natural gas without hydrogen sulfide Propane N-butane I-butane Iso-octane Methanol…

Gardening in Space a Challenge for NASA

Gardening in Space a Challenge for NASA

As NASA and other space agencies explore the universe and scramble to make humanity’s dream of branching out onto other planets a reality, scientists continue to search for ways to make life sustainable in space. Astronauts have become accustomed to dehydrated foods and other similar sources of nutrition while in space, and scientists have also…

Robot from Oil & Gas Technology Centre may improve safety, enhance productivity and reduce costs for offshore oil and gas projects

Robot from Oil & Gas Technology Centre may improve safety, enhance productivity and reduce costs for offshore oil and gas projects

An autonomous prototype robot (ARGOS) that can go “almost anywhere” may be ready to take on the more dangerous tasks in operational oil and gas installations offshore, particularly in difficult to reach areas. The robot can perform inspections, read instruments and is adept at navigating narrow pathways (including stairs). Autonomous intelligence should increase efficiency, while…

Ethical Concerns Rise Over the Future of Autonomous Vehicles

Ethical Concerns Rise Over the Future of Autonomous Vehicles

Automated machinery is remarkable, though it comes with risks associated with the lack of human supervision and interference. The death of a pedestrian hit by one of Uber’s driverless cars last month brought these concerns to light and prompted the public to question the ethics behind the use of these autonomous vehicles.     A…

Robotics Company Receives $820 Million in Funding

Robotics Company Receives $820 Million in Funding

Robotics company UBTECH recently closed a massive deal which landed the company a sum of $820 million. The fund was led by Tencent, as well as various other investors. The company, which makes bipedal robots, debuted a robotic butler at CES in January and announced a release date of January 2019. The company was founded…

Southwest Requested More Time for Inspections, Second Engine Explosion Results in Tragedy

Southwest Requested More Time for Inspections, Second Engine Explosion Results in Tragedy

It was meant to be a day like any other as passengers boarded a Southwest flight bound for Dallas. Unfortunately, the plane experienced engine trouble, which resulted in an explosion mid-flight. When the explosion occurred, a piece of shrapnel shattered a cabin window, causing a woman to be partially sucked out. Oxygen masks were released,…

Scientists Develop Plastic-Eating Enzyme

Scientists Develop Plastic-Eating Enzyme

Researchers from the University of Portsmouth and the U.S. Department of Energy’s National Renewable Energy Laboratory developed an enzyme by sheer accident while examining the structure of a natural enzyme found in a waste recycling center in Japan. The enzyme, Ideonella Sakaiensis 201-F6, degrades polyethylene terephthalate, a substance that was patented as a plastic in…

Google Increasing Artificial Intelligence in Military Spy Drones

Google Increasing Artificial Intelligence in Military Spy Drones

Google recently partnered with the U.S. Department of Defense in an effort to aid in the development of smarter drone software. The company is equipping the government agency with machine-learning software that will improve functionality and help computers to better detect objects in surveillance drone footage. The partnership is part of an initiative called Project…

1 2 3 82Next →

Other Popular News and Stories

  • BC refinery close to financing deal
  • Bombardier nearly ready to flight test CSeries
  • Bombardier holds update on CSeries aircraft
  • RV industry has growing role in Canada's economy: study
  • DART Aerospace re-branding itself to reach wider markets
  • Skilled labour shortage in world oil industry: report
  • Japex to buy into west coast LNG development
  • Russian leasing company orders 42 CSeries jets from Bombardier
  • Clean energy expected to surge as pv costs drop
  • GM investing $250 million at Ingersoll plant
  • Miners struggling with higher costs, lower prices
  • Canadian business, except energy, had profitable Q4: Statistics Canada
  • Canada keeping up pressure on US for Keystone XL approval
  • SPPCA's new landing gear facility opening in Mississauga
  • Canadian oil production up; producers turning to railways for shipment
  • Manufacturing the sole industry showing job losses in February
  • Pratt & Whitney Canada announces helicopter engine contracts
  • FTG Aerospace to supply avionics to Rockwell Collins
  • Economy managed slight growth in Q4, but shrank in December
  • Volkswagen to produce super-efficient hybrid