US, Chinese start-ups dominate robotics funding, secure 75% of investments
What's the story
According to a recent study by GlobalData, US and Chinese robotics start-ups have together drawn 75% of all venture capital investments in the field over the last six years.
"The scale of investment into US and Chinese robotics start-ups between 2018 and 2024 shows the two powers are 'emerging as dominant forces,'" the London-based analytics firm said.
The investment trend highlights their leadership in shaping future automation and intelligent systems.
Funding details
Investment breakdown: US leads, China follows
The study revealed that between 2018 and 2024, $100.9 billion was invested in the robotics sector. The US accounting for $49.9 billion while China attracted investments worth $24.4 billion.
Although the pandemic period slowed things down, nearly 6,000 venture capital deals were recorded globally in robotics during this period.
Over 2,000 of these deals involved US-based start-ups while Chinese firms were involved in about 1,532 transactions.
Funding sources
China's state-backed funds drive robotics investment
In China, most of the venture capital is from state-backed funds. Over the last decade, Beijing has poured money into robotics to modernize its massive manufacturing sector.
The Chinese government had identified robotics as one of 10 strategic technologies it plans to develop under its "Made in China 2025" strategy.
Industrial automation is considered key to countering the long-term impact of China's declining birth rate.