Telexistence Raises $170m for AI-powered robots

Startup Telexistence Raises $170m for AI-powered robots.

Tokyo-based robotics firm Telexistence announced that it had raised $170 million in a Series B round of funding. The round was led by SoftBank Group, with participation from existing investors Monoful Venture Partners, KDDI Open Innovation Fund, and Airbus Ventures.

The funding will be used to accelerate the commercialization of Telexistence’s AI-powered robots, which are designed for use in a variety of industries, including retail, logistics, and healthcare.

Telexistence equips its robots with cameras, sensors, and actuators, enabling them to interact with the physical world in real time. Users control the robots by wearing a headset that provides a virtual reality view of the robot’s surroundings. This allows users to remotely operate robots from anywhere.

The funding round comes just weeks after SoftBank said it was attacking the AI race. SoftBank CEO Masayoshi Son has said that he believes AI is the “most significant technology of our time” and that SoftBank is “committed to being the leader in the AI revolution.”

Telexistence Raises $170m for AI-powered robots

The funding round for Telexistence also comes at a time when robotics startup funding has dwindled. In the first half of 2023, global robotics startup funding fell to $1.8 billion, down from $2.5 billion in the first half of 2022.

Despite the decline in overall funding, Telexistence’s Series B round is a sign that AI-powered robotics still has strong interest. The company’s robots have the potential to revolutionize a variety of industries. The funding will help Telexistence accelerate its commercialization efforts.

About Telexistence

CEO Kenji Kawai and CTO Kohei Ogawa founded Telexistence in 2017. The company has its headquarters in Tokyo, Japan, and maintains offices in the United States and Europe. Telexistence is currently using its robots in pilot programs, which involve FamilyMart convenience stores in Japan and hospitals in France.

About the SoftBank Group

SoftBank Group, a Japanese multinational conglomerate, has its headquarters in Tokyo. The company engages in various businesses, including telecommunications, finance, and technology. SoftBank is the world’s largest investor in artificial intelligence. It has invested in AI-related companies, including NVIDIA, Arm, and OpenAI.