SoftBank Backs Robot Startup as Masayoshi Son Goes on Offense
- Japan’s Telexistence raised $170 million from SoftBank, others
- SoftBank’s past forays in robotics struggled with weak demand
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SoftBank Group Corp. joined a $170 million funding round for a robot maker, adding to its investment portfolio after founder Masayoshi Son said he’s going back on the offensive.
Tokyo-based Telexistence Inc. said it raised a Series B round backed by SoftBank, a fund set up by Hon Hai Precision Industry Co. and CTBC Financial Holding Co., Globis Capital Partners and earlier investors, without giving a breakdown. It’ll use the funds to expand to the US and increase headcount, the startup said Thursday.