Robocore Technology Limited (Robocore), a partner company of Hong Kong Science and Technology Parks Corporation (HKSTP), has announced the recent completion of its Series D funding.
As the world's largest precision electronics manufacturer, Foxconn Technology Co., Ltd. (FTC), through its wholly-owned subsidiary Q-Run Holdings Limited, has made a strategic investment in Robocore's wholly-owned subsidiary RoboTemi Global Ltd. This investment marks FTC's official entry into the smart robotics market, bolstering its smart manufacturing and artificial intelligence (AI) ecosystem, while paving the way for Robocore's future IPO.
The transaction involves a total potential investment of up to $30 million from FTC, beginning with an initial $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 $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.
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.
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.
