China's Lumos eyes fresh funding, potential listing as factory robot sales grow
Lumos has raised about 1 billion yuan ($147 million) across seven funding rounds, the company said. Founder and CEO Yu Chao told Reuters fresh capital would be used mainly for industrial deployments, hardware development, and AI models, including computing infrastructure.
Chinese robotics company Lumos Robotics is exploring additional funding and contemplating a potential stock-market listing next year, according to its founder Yu Chao. Lumos has already raised approximately 1 billion yuan ($147 million) across seven funding rounds, with the upcoming capital intended for industrial deployments, hardware development, and AI models, including computing infrastructure.
Mitsubishi Electric, a Japanese industrial group, is Lumos' biggest outside shareholder and collaborates on robotics solutions for manufacturing. Lumos primarily focuses on developing and commercializing the MOS 2, a wheeled, dual-arm robot designed for factory applications such as quality inspection and material handling.
Yu Chao asserts that the key to surviving China's robot boom lies in factory cost savings rather than human-like humanoid robots. Lumos has deployed around 30 MOS robots in various inspection and material-handling applications, with additional deployments planned. More than 10 other customers are also in the deployment or proof-of-concept stages.
The company has delivered about 50 MOS robots this year, with a target of 300 deliveries, primarily in China. One notable deployment with Mitsubishi Electric reduced solution costs by 35%, while maintaining productivity comparable to human workers.
Lumos accumulated over 700,000 hours of robotics data from deployed machines to train new skills and shorten development cycles. The company aims to expand its overseas presence next year, targeting the Middle East, Europe, Japan, and South Korea.
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