JUNEASIA BUSINESS OUTLOOK8DONGFENG LIUZHOU MOTORS TO DEPLOY HUMANOID ROBOTS IN FACTORYTEMASEK & FIDELITY MANAGEMENT COLLECTIVELY INVEST $200M IN INDIA'S LENSKARTA Chinese humanoid robot company, UBTech, has announced its plan to deploy humanoid robots in an automobile factory, marking a significant advancement in the application of China's humanoid robot technology within the manufacturing sector. The announcement, made on Tuesday to the Global Times, reveals that UBTech's industrial humanoid robot, Walker S, will be utilized at Dongfeng Liuzhou Motor for various tasks, including inspecting seat belts, door locks, and headlight covers, as well as performing oil filling, front axle subassembly, and material picking. The primary goal of this deployment is to alleviate humans from repetitive and monotonous work.UBTech plans to commence small-scale manufacturing of these robots by the end of the year, with the objective of achieving mass production by 2025 or 2026. According to a representative from UBTech, humanoid robots are envisioned to primarily handle repetitive, high-risk, and technically challenging tasks to enhance efficiency and ensure human safety. Liu Gang, director of the Chinese Institute of New Generation Artificial Intelligence Development Strategies, previously noted that the integration of humanoid robots with industrial and manufacturing sectors is likely to be the largest application scenario in China. Currently, the industrial version of the humanoid robot costs between $40,000 to $50,000, whereas an experienced worker in a vehicle factory assembly line earns approximately 180,000 to 200,000 yuan ($25,200 to $28,000) annually. The expectation is that if costs are reduced further, these robots could potentially replace a larger number of workers. Lenskart has raised $200 million from Temasek and Fidelity Management & Research through a secondary investment, which has increased the company's valuation to approximately $5 billion, up from its previous valuation of $4.5 billion. In this secondary deal, some early investors sold parts of their stakes to Temasek and Fidelity, meaning the shares were transferred among investors without adding new funds to the company.With this investment, Fidelity joins Lenskart's list of stakeholders. Market research firm Tracxn reports that Temasek already holds a 5.5 percent stake in the company, and this new investment from Fidelity does not significantly alter Temasek's ownership percentage. According to Avendus, Lenskart has raised close to $1 billion over the past 18 months, marking it as one of the largest growth-stage financings globally.Furthermore, private equity firm ChrysCapital recently invested an additional $100 million in Lenskart through a mix of primary and secondary funding. Lenskart is notable for attracting substantial investor interest, even amid generally subdued deal activity in the late-stage startup segment. SoftBank remains Lenskart's largest investor, holding a 16.5 percent stake in the company.Lenskart continues to expand its presence both in India and internationally, rapidly extending its reach across Asia and the Middle East. This expansion, coupled with the significant investments, underscores the company's strong market position and growth potential. Despite the challenging environment for late-stage startups, Lenskart's ability to secure substantial funding highlights its attractiveness to investors and its promising outlook in the competitive eyewear market. NEWSROOM
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