Foxconn Technology Invests US$30 Million in Robocore to Expand into Medical and Elderly Care Robotics Market
- Written by Media Outreach
Robocore Technology Limited has recently completed its Series D financing. Its wholly owned subsidiary, RoboTemi Global Ltd. (RoboTemi Global), received investment from Q-Run Holdings Limited, a wholly owned subsidiary of Foxconn Technology Co., Ltd. (FTC), one of the world’s largest precision electronics manufacturers. Shown in the photo is RoboTemi Global’s temi robot series.
The transaction involves a total potential investment of up to US$30 million from FTC, beginning with an initial US$10 million investment in preferred shares, acquiring a 6.6% equity stake in RoboTemi Global Ltd. The agreement also includes two subsequent investment tranches of US$10 million each, which may be exercised on the first and second anniversaries of the initial investment. Valuations for these tranches will be determined by mutual agreement or third-party assessment."This is more than a capital injection — it's an affirmation of our company's future prospects," said Mr Roy Lim, CEO of Robocore Technology. "With world-leading manufacturing and supply chain capabilities, FTC will join forces with us to accelerate our growth, expand into new markets, and help us stride confidently toward our IPO milestone."
Mr Eric Or, Acting Chief Operating Officer of HKSTP, said, "AI empowers Hong Kong's long-term economic development. HKSTP is pleased to see Robocore's rapid growth and global impact. Robocore's successful funding round not only signifies that a world-leading technology enterprise has endorsed its core robotics technology, but also proves that Hong Kong's tech ventures can firmly establish their position on the global stage."
Headquartered in Hong Kong Science Park, Robocore is the world's leading open-platform service robotics enterprise. Its products are deployed at nearly 20,000 client sites worldwide. Additionally, it serves over 5,000 sites in the US, spanning hospitals, elderly homes, retail chains, and households. In New York State alone, more than 200 elderly homes use its temi robots to assist doctors in completing remote diagnoses within two minutes — significantly reducing insurance costs and improving medical coverage rates. Moreover, approximately 50 four-star and five-star hotels, 1,300 universities, secondary and primary schools, over one hundred smart buildings and shopping malls and 2,000 system integrators with development capabilities in the world are using Robocore's products.
With FTC's strategic and manufacturing support, Robocore is expected to achieve three-fold revenue growth over the next three years and aims for a five-fold increase by 2028. The company's growth will be primarily driven by accelerated expansion in the US, Europe, and Asia. Robocore plans to initiate its IPO process within five years, aiming to become one of the world's fastest-growing service robotic enterprises.
Proceeds from this funding round will be mainly used to strengthen Robocore's telemedicine business in the US, Europe and Japan, launch new products for mainland China's consumer market, and expand global sales and marketing operations. These initiatives aim to further consolidate its industry leadership position while preparing for a pre-2030 IPO.
https://www.robocore.ai/https://www.linkedin.com/company/robocore-ai/https://x.com/robotemihttps://www.facebook.com/robocoretechnology/https://www.instagram.com/robocoretechnologyRobotemi website: https://www.robotemi.com/youtube: https://www.youtube.com/@robocoreaihttps://www.youtube.com/@TemiRobot
Hashtag: #Technology #robotics #robot #ftc
The issuer is solely responsible for the content of this announcement.
