The Chinese company manufacturing collaborative robots, FAIRINO, has completed raising Series D funding. This round was led by Meituan, which previously participated in the Series C+ round spearheaded by Meituan's investment arm, known as Long-Z.
Information about the latest round was disclosed by the company in October. The raised funds will be allocated to expanding production and developing industrial robotics.
Collectively, both rounds have allowed the company to raise nearly one billion yuan. Other investors participating in the deal included Yongxin Capital and Suzhou Capital Group, while several existing partners increased their investment stakes. The company did not disclose the specific amount raised in the Series D round.
The funds obtained by FAIRINO will be used to scale up production capacity for key components and products. These include the force-controlled ART robotic manipulators and the AIRLab embodied intelligence platform. Furthermore, the financing will support the company's research and development efforts and its international business expansion.