Robocore Raises USD 30M to Expand Global Telemedicine Efforts

Hong Kong-based leading service robotics company Robocore Technology Limited has announced the successful close of its Series D round of funding with strategic investment by Foxconn Technology Co., Ltd. (FTC).

The transaction represents FTC's formal foray into the smart robotics business, furthering its general expansion into AI and smart manufacturing.

FTC's subsidiary company Q-Run Holdings Limited has invested as much as USD 30 million in Robocore's fully-owned subsidiary RoboTemi Global Ltd. The first investment of USD 10 million for a 6.6 percent equity stake was complete, with two subsequent tranches of USD 10 million each to be potentially made on the first and second anniversaries. Future investments will be valued based on mutual agreement or third-party valuation.

Key Highlights:

• Robocore secures USD 30M in Series D funding with Foxconn’s strategic investment, advancing its global expansion in healthcare and AI robotics
• The funding will support Robocore’s growth in telemedicine, new product development, and market expansion across the US, Europe, and Asia
• Robocore’s Temi robots are installed in nearly 20,000 locations worldwide, including hospitals, elderly homes, and retail outlets

Hong Kong Science Park-based Robocore is the world's number one open-platform service robotics business, with its products installed at almost 20,000 locations worldwide. Its robots, such as the temi series, are extensively applied in hospitals, nursing homes, retail stores, and households with over 5,000 locations in the US alone.

Over 200 elderly homes in New York use temi robots to support remote medical diagnoses, cutting insurance expenditure and improving care quality.

Also Read: Geriatric Medicine Boom: Asia's Stunning Growth and Opportunities

Robocore intends to use the money to build out its telemedicine services in the US, Europe, and Japan, add new products to China's consumer market, and expand global sales and marketing.

The company wants to cement its industry position and get ready for a possible IPO by 2030. "This investment speeds up our global expansion and innovation in healthcare robots," stated Robocore CEO.