Smart Companion Robot Maker Xiaoyuer Raises Series C from Baidu, Foxconn
Tencent Tech, 4/03/18
Beijing-based Xiaoyuer Technology, developer of smart companion robot product AI Nemo, recently announced completion of Series C funding led by Chinese internet conglomerate Baidu (Nasdaq: BIDU) with participation by Taiwanese electronics manufacturer Foxconn (2038.HK; 2354.TW). Xiaoyuer has now completed more than USD 100 mln in funding to date. The company has established a strategic partnership with Baidu and the two firms continue to deepen the extent of their cooperation.
Xiaoyuer was established in March 2014 and develops smart home hardware products, smart home operating systems, and Internet of Things smart terminals to provide applications and services for in-home use scenarios.
Xiaoyuer and Baidu have cooperated to develop several products including a video calling robot and smart video speaker product, which both use Baidu's DuerOS operating system. Xiaoyuer products are sold in more than 50 countries and are used by home users in more than 745 cities.
Editor's Note: For more information on this topic, please see Update: Baidu, Xiaoyuer Launch RMB 600 Smart Video Speaker, MD 3/27/18 issue.
Keywords: AI Nemo M&A hardware funding Baidu Foxconn 2038.HK 2354.TW Series C BIDU Xiaoyuer robot smart appliance artificial intelligence virtual assistant