Mind Robotics, a Rivian spinoff, raises $400M led by Kleiner Perkins, valuing it over $3B, to develop human-like industrial robots for factory automation.
Inovance, a major Chinese industrial automation firm, is preparing for a Hong Kong share issuance expected to raise US$2 billion. The company reported strong annual growth, with revenue reaching 45 billion yuan, and is prioritizing international expansion.
As the artificial intelligence race moves beyond language models into the physical world, Asia’s manufacturing and supply chain strengths could give it an edge over the US, says Granite Asia’s Jixun Foo. The veteran venture capitalist said the current wave of AI development, sparked by breakthroughs in foundation models over the past two years, had entered a new phase where physical applications – from robotics to industrial automation – were becoming increasingly important, playing to Asia’s...
