Rokae brings in $63 million financing

Rokae, a Beijing-based developer of industrial and collaborative (cobot) robots, announced it brought in over $63 million (400 million yuan) in strategic financing.

The financing comes from New Hope Group, an agribusiness company. According to Yu Feng, the chief investment officer of New Hope Group, Rokae’s underlying technology platform, electromechanical technology modularization, core component autonomy, application market segmentation and implementation examples in many industries.

“After 40 years, New Hope Group has become China’s largest comprehensive supplier of meat, eggs and milk, and it has the courage to take the lead in intelligent upgrading and digital transformation in this most traditional industry,” Feng said. “Looking for the best domestic technology companies in food deep processing, cold chain logistics and many other fields, and work with us to complete the automation upgrade of traditional production lines and intelligent and flexible production.”

Rokae was founded in 2015, and its robots are used in industrial and medical fields. Some of its customers include Valeo and Schaeffler. It operates in 12 countries, including Japan, Korea, Germany and France.

Rokae offers a range of nine industrial robots, with payload capacities between 4-25 kg. All of its industrial robots have six rotational degrees of freedom.

The company’s cobot series, xMate, is made up of four robots. The xMate 3 and xMate 7 both have six rotational degrees of freedom, while the xMate 3 Pro and xMate 7 Pro have seven. Their payload capacities range from 3-7 kg.

Rokae brought in $31 million in Series C+ financing in May 2021. That financing came from Shenzhen Capital Group and Far East Horizon’s sub-fund Grand Flight Investment.

The company is aiming to sell over 10,000 robots by the end of 2022. Rokae plans to use the strategic financing to make progress towards its goal of being the world’s leading full range of industrial robots.