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Japanese collaborative robot company raises $4.4 million in first round of private equity funding

by：Gewinn 2022-05-12

LifeRobotics, a Tokyo-based collaborative robotics startup, announced the close of its first round of private funding, raising approximately 5 billion yen ($4.4 million). The company had secured 270 million yen ($2.2 million) before announcing the start of its first private funding round last November. In addition to existing investors, leading Japanese industrial electronics manufacturer Koden Holdings, Mitsubishi UFJ Financial Group and Omron participated in the private round, investing 230 million yen ($2 million). As a result, the first round of private equity financing exceeded the company's projected target of 4 billion yen ($3.5 million). LifeRobotics was established in Tokyo in December 2007 by Dr. Woo-KeunYoon. Dr. Woo-KeunYoon has been researching robotic arms at the National Institute of Advanced Industrial Technology (AIST) in Japan for over 15 years. The team he leads is developing collaborative robots that allow users to teach robots movements by using a 3D mouse or a gamepad, without complex programming skills. Coro, a cobot developed by the company for tight production spaces where conventional robots are difficult to place, increases worker productivity and automates production. LifeRobotics will use the funds raised to advance technology development and recruit salespeople. In addition, the company recruits software and hardware engineers and interns who want to develop their careers in the robotics industry.

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