Chinese AI industrial robotics company Mech-Mind announced on Tuesday that it had secured nearly 1 billion yuan ($155 million) in Series C. The investment was led by food delivery and on-demand local services provider Meituan and IDG. Sequoia Capital China and Source Code Capital also paticipated in the funding round.

Details:

The lastest fund will be used in improving the company’s products, services, and delivery capacity.

Founded in 2016, the Beijing based Mech-Mind offers products ranging from industrial 3D cameras to intelligent robot programming technologies, with a speciality in deep learning and 3D vision.

Its core technologies have been applied to the fields of automobile, home appliances, steel production, food production, and finance, etc.

Currently, the company has made its footprints in Germany, Spain, US, Japan, SEA, etc, with nearly 500 employees.

Context:

According to the announcement, the company has completed four rounds of large-amount of funding in the last one and a half years. Last year, it raised nearly 100 million yuan ($15.48 million), in series B+ round. The investors included Sequoia Capital China and Source Code Capital.

The company has raised a total of $234 million in funding over seven rounds, according to CrunchBase.

The founder and CEO Tianlan Shao, has a background in the development of advanced robotics.