Lumos Robotics raises $147 million to expand factory robot deployments
Lumos Robotics, based in Shenzhen, is aiming to begin preparing for a possible stock-market listing next year after already raising about $147 million across seven funding rounds.
Founder and CEO Yu Chao says the new cash will help ramp up factory deployments, upgrade their robots' hardware, and boost AI development.
MOS 2 deployments scale in China
Lumos's MOS 2 robot handles quality checks and material moving in factories:
Thirty are already working and about 300 deliveries are set to roll out across China this year.
Teaming up with Mitsubishi Electric, Lumos has reduced the cost of a solution to below 350,000 yuan from roughly 500,000 yuan to 1 million yuan previously while matching human-level efficiency.
They're also working on making their bots multitask for bigger jobs, with eyes on expanding to the Middle East and Europe next year.