Trade Robot Supplier Jingwu AI Receives $ 1.5 Million In Round A Funding
Recently, Jingwu AI, a China-based trading robot company, received an additional 10 million yuan ($ 1.57 million) in Round A of funding. The round was invested by SOSV-SCGC China Fund while Extremex Capital continued to serve as the exclusive financial consultant. The proceeds from this round of funding will be mainly used for product R&D and market expansion.
Jingwu AI, founded in 2019, mainly focuses on the development of hotel robots and strives to provide customers with robots and system solutions to reduce overall costs and increase revenue. At present, the company has formed two product lines relating to hotel delivery robots and cleaning robots. Next year, the company will start expanding overseas operations, prioritizing Japan, Europe and Dubai, three countries and regions where labor costs and demand are higher. students.
According to the International Federation of Robotics (IFR), in 2020, global sales of professional service robots will total more than $ 13.9 billion, up 24% year on year. It is estimated that by 2023, sales will reach $ 27.7 billion, with an annual growth rate of 26%.
In order to meet the growing market demand, in 2019 Jingwu AI launched a hotel delivery robot capable of performing basic functions such as automatic delivery, guidance and explanation. The robot was also able to perform functions related to retail operations, security and temperature measurements. The device was able to handle an average daily delivery of 70-80 orders and had a delivery success rate of over 99.8%.
At present, the company’s delivery robots have entered into extensive cooperation with chain groups such as Home Inn, Jinjiang and Huazhu, as well as with hotels such as Marriott and Hilton.
Jingwu AI launched a cleaning robot for hotel bathroom solutions in August this year, which has multiple functions and multiple perception capability. The robot has arms for different cleaning targets, such as scrapers, cleaning balls, rags and other cleaning supplies.
The company’s cleaning robot cuts the time needed to clean a hotel bathroom from 25 minutes to just 15 minutes through human-machine cooperation.
The AI cleaning robot uses five basic technologies, including force control recognition, visual recognition, planning of robot arm movements, deep learning and autonomous HD map construction and automatic navigation in unknown environments based on laser scanning and vision.
SEE ALSO: Mobile robot company ForwardX Robotics secures nearly $ 31.4 million in C Round funding
More and more companies are betting on the field of robots. Companies include PUDU Technology, Keenon, Yunji