Tencent is expected to lead a $400m funding round for UBTech that will reportedly value the family-friendly robot maker at $4bn.
China-based robotics technology producer UBtech Robotics is set to close a $400m series C round led by internet group Tencent, the South China Morning Post reported yesterday.
The deal would value UBtech at approximately $4bn, an unnamed source told the Post, though the company itself has declined to comment. The round has not yet closed and details may change.
Founded in 2012, UBtech produces family-friendly, humanoid robots for a range of applications. Its products include educational kits that enable children…
