Taiwan-based Foxconn Technology Co., Ltd (FTC) has invested $30 million in Hong Kong-based robotics firm Robocore Technology Limited to expand into medical, elderly care robotics market.

Robocore, a partner of the Hong Kong Science and Technology Parks Corporation (HKSTP), announced in a statement on Tuesday the completion of its Series D funding.

FTC, through its wholly-owned subsidiary Q-Run Holdings Limited, has made a strategic investment of up to $30 million in Robocore’s wholly-owned subsidiary, RoboTemi Global Ltd.

This is marking Robocore entry into the smart robotics market, bolstering its smart manufacturing and artificial intelligence (AI) ecosystem, while paving the way for its future initial public offering (IPO).

The transaction involves a total potential investment of up to $30 million from FTC, beginning with an initial $10 million investment in preferred shares, acquiring a 6.6 percent equity stake in RoboTemi Global Ltd.

The agreement also includes two subsequent investment tranches of $10 million each, which may be exercised on the first and second anniversaries of the initial investment.

Valuations for these tranches will be determined by mutual agreement or third-party assessment.

Proceeds from this funding round will be mainly used to strengthen Robocore’s telemedicine business in the United States, Europe and Japan, launch new products for mainland China’s consumer market, and expand global sales and marketing operations.

These initiatives aim to further consolidate its industry leadership position while preparing for a pre-2030 IPO.

With FTC’s strategic and manufacturing support, Robocore is expected to achieve three-fold revenue growth over the next three years and aims for a five-fold increase by 2028.

The company’s growth will be primarily driven by accelerated expansion in the US, Europe, and Asia.

Robocore also plans to initiate its IPO process within five years, aiming to become one of the world’s fastest-growing service robotic enterprises.

“This is more than a capital injection — it’s an affirmation of our company’s future prospects,

“With world-leading manufacturing and supply chain capabilities, FTC will join forces with us to accelerate our growth, expand into new markets, and help us stride confidently toward our IPO milestone,” said Roy Lim, Chief Executive Officer of Robocore Technology.

Eric Or, Acting Chief Operating Officer of HKSTP, said AI empowers Hong Kong’s long-term economic development.

“HKSTP is pleased to see Robocore’s rapid growth and global impact,

“Robocore’s successful funding round not only signifies that a world-leading technology enterprise has endorsed its core robotics technology, but also proves that Hong Kong’s tech ventures can firmly establish their position on the global stage,” he added.

Headquartered in Hong Kong Science Park, Robocore is an open-platform service robotics enterprise.

Its products are deployed at nearly 20,000 client sites worldwide.

Additionally, it serves over 5,000 sites in the US, spanning hospitals, elderly homes, retail chains, and households.

In New York State alone, more than 200 elderly homes use its temi robots to assist doctors in completing remote diagnoses within two minutes — significantly reducing insurance costs and improving medical coverage rates.

Moreover, approximately 50 four-star and five-star hotels, 1,300 universities, secondary and primary schools, over one hundred smart buildings and shopping malls and 2,000 system integrators with development capabilities in the world are using Robocore’s products.

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