XYZ Robotics, a provider of AI-based robotic technologies, raised USD 35 million in a Series B funding round led by new investor Capital Today and with participation from existing investors Gaorong Capital, Source Code Capital, and 5Y Capital, among others. This brings the company’s total funding to USD 63 million.

The new funding will be used to enhance R&D capabilities, increase the depth of its technology’s vertical integration, and expand its sales and delivery systems. XYZ Robotics reports that it currently serves the e-commerce, logistics, consumer goods, everyday chemical, and pharmaceutical industries.

Analyst QuickTake : 

• Founded in 2018 in Shanghai, XYZ Robotics offers AI-based robotic technologies for sorting, picking, and packing automation, with swappable grippers. It uses a combination of robotic manipulation and machine learning to operate, and the company claims its systems do not require training on working with new objects. It also claims its technology can sort around 900-1800 pieces of products per hour, with a 99.99% accuracy rate. 

• The company previously focused on third-party warehouse owners and logistics companies across the US and East Asia, while providing turnkey solutions for end-users as well as standalone vision systems for system integrators. With the new funding, XYZ should be able to supply its technology to more industries and open up new incremental application scenarios.