Jaka aims to avoid pitfalls in robot manufacturing

Chief executive of the Chinese industrial robot maker tells FinanceAsia the firm is learning from the failure of its US peer as it raises $15 million for expansion.

Chinese industrial robot maker Jaka Robot said on Monday it has raised $15 million in its Series B fundraising and aims to expand as the world's second largest economy sets sights on upgrading the advanced manufacturing sector.

Asian private equity firm led the round of funding, the Shanghai-based startup said in a statement without disclosing the identity of other investors. Monday's funding came about a year after its Rmb75 million $11.2 million Series A fundraising.

Jaka said the proceed this year will be used to expand its sales both domestically and internationally, with more focus on consumer electronics, medical instrument and car component manufacturing.   ...

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