Chinese industrial robotics player Emergen raises $30m
Qiming Venture Partners has led a RMB200 million ($30 million) Series B round for Emergen, a Chinese company that designs intelligent operating systems for factories and produces industrial robots.
Founded in 2016 and based in Zhejiang province, Emergen claims to have raked in RMB310 million in revenue since inception and achieved RMB15 million in profit. Almost half its revenues come from sales of smart operating systems.
The company's robot business is primarily focused on dual and single arm robots used for machinery assembly, maintenance, and the transportation of industrial materials. It has self-developed products and also manufactures robots in conjunction with Japan’s Kawasaki Heavy Industries.
Emergen raised Series A round from Zhejiang Zhongyi Tus Investment in 2017.
Clients range from companies involved in elevator manufacturing to the production of non-ferrous metals. China has been the world’s largest industrial robot market since 2013, with 141,000 units purchased in 2017, up 58.1% year-on-year. Foreign brands account for nearly three-quarters of the total. Growth in demand is linked to rising labor costs and a decreasing working-age population.
Other activities in industrial robotics space include a $15 million round for Hangzhou Guochen Robotic Technology, which closed in March.
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