UBTECH plans Middle East mega factory after $1 billion Infini Capital deal

Chinese tech firm UBTECH Robotics announced Monday that it had signed a $1 billion strategic financing agreement with global investment firm Infini Capital. Under the agreement, Infini Capital’s high-tech fund will provide UBTECH with rapid financing channels by subscribing to newly issued shares and convertible bonds, and by granting cash withdrawal rights. The two parties will also jointly invest in the robotics industry chain and establish a joint venture in the Middle East, with plans to build a mega factory, research and development center, and regional headquarters in the United Arab Emirates and other locations. The cooperation marks continued international capital investment in China’s humanoid robotics industry. [UBTECH, in Chinese]