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Goldman backs China's MegaRobo in $300m funding round

Beijing-based robotics company to strengthen R&D for automation

Goldman Sachs' private investment arm, venture capital company GGV Capital, led the funding round by MegaRobo Technologies.   © Reuters

HONG KONG -- MegaRobo Technologies, a Chinese company that provides robotics and artificial intelligence (AI) for life sciences research, has pocketed $300 million in a Series C round of financing.

Goldman Sachs' private investment arm, venture capital company GGV Capital and Asia Investment Capital led the round, with participation from Sinovation Ventures, Pavilion Capital and Starr Capital, MegaRobo announced in a statement on Wednesday. China-focused investment companies Yumeng Capital, Redview Capital and Harvest Capital, as well as investment bank Taihecap, also were involved in the deal.

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