On April 8, Chinese robotics startup CloudMinds finished series B+ round of funding with RMB 1 Billion (approx. USD 150 million) investment led by SOEs Shanghai Urban Construction Investment and Shanghai Guosheng Group. Headquartered in Beijing, the company owns over 1,801 patents and has released the Hairui cloud robot operating system, smart flexible joint SCA, and XR 1 cloud robot series.
CloudMinds is founded by China Mobile Research Institute veteran Bill Huang back in 2015. The company worked on the R&D of cloud-based robotics, large-scale telecom machine learning networks, secure high-speed networks, business service robots, and other smart devices. It had submitted a prospectus to the US SEC in July 2019. The IPO attempt was blockaded by the US Department of Commerce, which listed CloudMinds in its Entity List.