Foxconn invests up to $39m in Robocore unit

Proceeds will support telemedicine operations in the US, Europe, and Japan.

Robocore Technology Limited has secured up to $234.3 m (US$30m) in Series D funding from Foxconn Technology Co., Ltd. through its subsidiary Q-Run Holdings Limited.

The investment targets Robocore’s wholly owned unit, RoboTemi Global Ltd., marking Foxconn’s entry into the smart robotics market.

Foxconn’s commitment includes an initial $78.1 m (US$10m) for a 6.6% stake, with two additional $78.1 m (US$10m) tranches available over the next two years.

Robocore said the funding will accelerate expansion in the US, Europe, and Asia, with revenue expected to triple within three years and grow five-fold by 2028. The company plans to pursue an IPO within five years.

Proceeds will support telemedicine operations in the US, Europe, and Japan, the launch of new consumer products in mainland China, and global sales and marketing.