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SoftBank invests in robotics startup that serves Foxconn

SoftBank is leading a 220 million dollars round into
Agile Robots, a startup based in Munich and
Beijing. Specifically, as reported by The Information
and its sources, its systems will be deployed by Fixconn,
the iPhones manufacturer, in order to help
smartphones development.

Agile Robotics is expected to worth around 1
billion dollars.This comes in a period that China’s
authorities have intensified the scrutiny of local
tech companies.SoftBank, as a major investor in
the chinese companies Didi Global and Full Truck
Alliance, has been hit hard because of this austere
controls.

Even though the regulatory restriction has affected
SoftBank Group’s expectations for returns, its
position in China retains unchanged, since it keeps
bringing development opportunities, according to
Navneet Govil, Chief Financial Officer of Vision
Fund.

In August, the Japanese Group reported a 39%
drop in its quarterly net profit for its April to June
quarter as it had losses of 6,3 billion dollars on 9 of
its investments.

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