Business | Jul 07

Telexistence raises $170m as labor-strapped retail industry looks to automation

SoftBank, Foxconn buy into Japan shelf-stocking robot startup

TOKYO, Jul 07 (Nikkei) - SoftBank Group and Foxconn are among those to invest $170 million in a Japanese startup that makes shelf-stocking robots for convenience stores as the retail industry looks to catch up in automation and labor-saving efforts.

A total of six parties including venture capital firm Globis Capital Partners and KDDI Open Innovation Fund, a venture capital firm operated by Japanese telecommunications company KDDI, invested in Tokyo-based Telexistence, according to Thursday's announcement. ...continue reading

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