Foxconn Invests $30M in Robocore's Robotics Expansion

Foxconn has made a strategic investment of $30 million in Robocore Technology Limited's subsidiary, RoboTemi Global Ltd. This investment marks Foxconn's entry into the smart robotics sector, focusing on medical and elderly care robotics.

The investment begins with an initial $10 million for a 6.6% stake in RoboTemi Global, with two additional $10 million tranches planned over the next two years, contingent on mutual agreement or third-party valuation. This move is part of Robocore's Series D funding round, aimed at supporting its global expansion and preparing for an IPO before 2030.

Robocore plans to use the funds to enhance its telemedicine services in the US, Europe, and Japan, and to launch new products in mainland China. The company, headquartered in Hong Kong Science Park, is a leader in open-platform service robotics, with its products deployed across nearly 20,000 sites worldwide, including hospitals and elderly care facilities.

With Foxconn's backing, Robocore anticipates tripling its revenue within three years and achieving a five-fold increase by 2028. This partnership leverages Foxconn's manufacturing and supply chain capabilities to accelerate Robocore's growth and market expansion.