US-based telecoms company SoftBank, which operates a corporate venturing unit itself, has attracted a $236m investment from e-commerce company Alibaba and contract manufacturer Foxconn, TechCrunch reported earlier today.
The deal gives Alibaba and Foxconn a 10% stake in SoftBank’s subsidiary SoftBank Robotics, while SoftBank retains a 60% stake.
The investment comes as SoftBank prepares to start selling its humanoid household robot named Pepper (pictured), manufactured by Foxconn. The purpose of the deal is strategic, as both Alibaba and Foxconn will…