FJDynamics raises $70 million to brings worker robots to the masses
Business & Technology
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The former chief scientist at DJI, China’s largest drone maker, has closed out a $70 million Series B for his new robotics startup FJDynamics.
- According to the founder Wú Dí 吴迪, the Shenzhen-based company, founded in 2019, aims to build affordable robots to make labor-intensive industries like farming easier for workers in low-income countries.
- Wu said he will use the funds to “grow its suite of robotics automation technology” in the sectors of agriculture, warehouse management, construction, and gardening.
- The lead investor in the Series B has remained anonymous, though it is said to be a major internet firm.
The context: As part of the Made in China 2025 plan, Beijing has prioritized technologies that can upgrade China’s industrial output and manufacturing sectors.
- FJDynamics’ automatic feed pusher costs about 20,000 euros ($22,699) and can feed up to 500 cows a day. The company hopes to build products that work alongside humans in physically demanding jobs rather than replace them.
- The startup is already more global than many of its peers: 40% of its sales come from outside China and customers span across 60 countries.
The takeaway: Current tech products such as drones and electric vehicles in China tend to be priced for hobbyists or a premium market. But affordable tech with low margins may be the way to go, as demonstrated by the massive success of SAIC-Wuling’s mini-EV.
