Chinese self-driving firm iMotion eyes robotics business after unveiling refinancing plan
On Monday, the Suzhou-based firm said it would collaborate with Horizon Robotics, a maker of artificial intelligence (AI) chips for autonomous driving cars, to develop the iMotion iRC100 robotic controller, which is responsible for directing the movements of industrial robotic arms.
A robotic controller, a computer system that connects to a robot, is often described as the brain of a robot.
iMotion's diversification effort came just a week after it unveiled a refinancing plan under which it would sell 15.5 million Hong Kong-listed shares at HK$15.22 (US$1.94) each to raise a total of HK$230.7 million.
'The iRC100 will deliver a full-stack solution encompassing hardware design and manufacturing, basic software systems, middleware frameworks, and AI model deployment capabilities,' iMotion said in a filing to the Hong Kong stock exchange.
The company added it would be able to provide tailor-made products and technologies to customers.
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