Rice Robotics Raises $7 Million: Robots Are About To Become A Much Larger Part Of Everyday Life

For many years, the idea of robots assisting with day-to-day tasks was nothing more than a dream. However, with the recent growth of AI technology, this dream is now a reality.

Rice Robotics is one of the best examples of how robots are changing the way people live and do business. 

The Hong Kong-based developer of delivery, disinfection, and security robots has raised $7 million in Pre-Series A funding.

Don't Miss:

• Until 2016 it was illegal for retail investors to invest in high-growth startups. Thanks to changes in federal law, this Kevin O'Leary-Backed Startup Lets You Become a Venture Capitalist With $100
• Airbnb was worth $47 billion at IPO. This New ‘Airbnb For RV’s’ Platform Takes On The $540 Million RV Rental Market With 25% In Savings And $50,000 For Renters is open for anyone to invest.

What you need to know

The company has already utilized a portion of its funding to erect a new manufacturing plant in Hong Kong’s Tsuen Wan industrial area. Launched in the first quarter of 2023, the 13,000-square-foot facility has amplified the company’s annual production output fourfold.

This establishment represents Rice Robotics’ dedication to both the design and production of its robots on home ground. 

Victor Lee, the founder and CEO of Rice Robotics, said, “We aspire to showcase to the world that Hong Kong possesses a robotics company capable of producing first-tier service robots. Our aim is to nurture talent locally and contribute to the advancement of Industry 4.0 in our hometown."

In addition to boosting its production, the pre-Series A funding and new facility also serve as a launchpad for Rice Robotics to tap into the Japanese market. This market holds considerable appeal due to Japan’s readiness to embrace service robots.

In recent years, Rice Robotics has made substantial headway in the Japanese Market. Since 2021, their Rice robots have been tasked with delivering 7-Eleven products to Softbank employees at the company’s Takeshiba headquarters, a collaborative venture between Rice Robotics and Softbank.

To stay updated with top startup news & investments, sign up for Benzinga's Startup Investing & Equity Crowdfunding Newsletter

Furthermore, Rice Robotics has been coordinating with the Japan Post Group since March 2021 to assign five delivery robots for last-mile deliveries in a residential sector in the Chiba prefecture. The Toyota Motor Corporation also employs RICE robots within its virtual showroom in Tokyo, where these service robots cater to guests by serving beverages.

The startup will also soon be offering delivery services to the Mitsui Garden Hotel, capitalizing on the existing alliance with the Mitsui Group. In 2022, Rice Robotics demonstrated successful implementations of its robots at Tokyo Midtown Taesu and Mitsui Garden Hotel Kashiwa-no-ha Parkside.

The company currently has three autonomous mobile robots in its portfolio: Rice, Jasmine, and Portal. 

Rice, an indoor delivery robot, is versatile enough to transport a wide range of items, from freshly brewed coffee to medical supplies and documents.

Jasmine serves as the startup‘s disinfection robot that dispenses vaporized sterilizing fluid. With a battery life that can last up to 8 hours, Jasmine can perform scheduled disinfections with a customizable vaporization strength. 

Portal, Rice Robotics' security and patrol robot, can live-stream and record video, facilitate 2-way communication, and perform tasks such as detecting water spillage or monitoring air quality.

See more on startup investing from Benzinga:

• Consuming too much caffeine but still tired? This startup found The Secret Behind Why Your Coffee and CBD Might Not Be Working
• Gamers are selling their old gaming items for millions. Learn why everyday gamers and investors are claiming a stake in their side hustles and how they invested over $1.2 million in this startup