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Startups

SoftBank-backed startup preps $500m IPO to make Pepper smarter

Robotics company touts cloud-based brain that expands memory space

NEW YORK -- CloudMinds, a Beijing-based robotics startup backed by SoftBank Group's Vision Fund, has filed for a $500 million listing on the New York Stock Exchange.

CloudMinds touts itself as the first in the world to commercialize a cloud-based robotics system. It operates an end-to-end architecture consisting of a "cloud brain," a "nerve system" and controllers, used on smart robots including Cloud Pepper, which the startup sources from SoftBank Robotics and customizes with its own technology. 

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