Foxconn Invests in Robocore Ahead of Planned IPO

Robocore Technology Limited (Robocore), a member of the Hong Kong Science and Technology Parks Corporation (HKSTP) Partner Programme, announced that it has recently completed its Series D funding.

Foxconn Technology Co. (FTC), the largest maker of precision electronics in the world, has strategically invested in Robocore's wholly-owned subsidiary RoboTemi Global Ltd. through its wholly-owned subsidiary Q-Run Holdings Limited. By strengthening its smart manufacturing for growing healthcare technology and artificial intelligence (AI) ecosystem and opening the door for Robocore's upcoming initial public offering (IPO), this investment represents FTC's formal debut into the smart robotics market.

Robocore Technology Limited has just concluded its Series D financing. Its fully owned subsidiary, RoboTemi Global Ltd. (RoboTemi Global), secured investment from Q-Run Holdings Limited, a wholly owned subsidiary of Foxconn Technology Co., Ltd. (FTC), one of the largest precision electronics manufacturers in the world. Pictured is RoboTemi Global’s temi robot series.

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A total of up to US$30 million might be invested by the FTC in this deal, starting with an initial US$10 million investment in preferred shares to purchase a 6.6% equity holding in RoboTemi Global Ltd. Two additional US$10 million investment tranches are also included in the agreement; these could be exercised on the first and second anniversaries of the original investment. These tranches' valuations will be decided by consensus or independent evaluation.Robocore is set to expand into the elderly care robotics market, aiming to address the growing need for assistive technologies in aging populations. This strategic move positions the company at the forefront of healthcare innovation.

"This is more than a capital injection ,  it's an affirmation of our company's future prospects," said Roy Lim, CEO of Robocore Technology. "With world-leading manufacturing and supply chains capabilities, FTC will join forces with us to accelerate our growth, expand into new markets, and help us stride confidently toward our IPO milestone."