Social RoboticsLOVOT maker Groove X raises about 26 million dollars
NTT Docomo, Sompo and Hitachi backed the Japanese companion robot company in a Series B3 round.
Groove X, which makes the LOVOT household companion robot designed to respond to people's feelings, raised 2.7 billion yen in a Series B3 round that combined equity with debt from Japan Finance Corporation. Investors included NTT Docomo, the insurer Sompo Holdings and Hitachi, bringing total funding to about 128 million dollars. Docomo also agreed to work with Groove X on communication services, including in medical care. The round showed continued investor appetite for emotionally focused companion robots during the pandemic.
Source: Global Venturing
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