(Yicai Global) Jan. 4 -- Standard Robots, a Chinese mobile industrial robot developer, has raised hundreds of millions of Chinese yuan, equivalent to tens of millions of US dollars, in its latest funding round led by Chinese private equity firm Broad Vision Funds.

Other participants in the Pre-C Series include Nio Capital and existing shareholders Miracle Plus and Source Code Capital, the Shenzhen-based company said today.

The proceeds will be used to develop more Autonomous Mobile Robots, expand the firm’s share of the global market and bring in skilled talent, it added.

The mobile robot plays a key role in smart factories, said Zhu Jia, a member of Lightspeed China which led the Series-B fundraising round in 2020.

Standard Robots is the largest mobile robot maker in China that uses SLAM navigation, or Simultaneous Localization And Mapping. It has developed its own integrated software and hardware and offers innovative and flexible solutions in manufacturing and logistics. Its clients include telecoms giant Huawei Technologies, iPhone contract supplier Foxconn Technology, electronics firm Delta Electronics and drone maker DJI.

Editor: Kim Taylor