Fairino Raises Over $50 Million in Series B Led by Source Code Capital

源码资本·March 9, 2022·1·5

Delivering high-performance collaborative robot products at extreme cost-performance ratios.

#MaKe Key Updates from Source Code Capital and MaHui Members

Fairino recently closed a Series B round of over $50 million, led by Source Code Capital, with participation from Alibaba and Meituan Longzhu. Existing shareholders Shunwei Capital, Hillhouse, and Eastern Bell Capital continued their follow-on investments. Yuanqi Capital served as the long-term exclusive financial advisor.

Founded in 2019, Fairino leverages its full-stack, in-house hardware and software capabilities for collaborative robots to deliver high-performance, cost-competitive products. Drawing on long-standing, industry-validated product engineering expertise and access to core sector resources, the Fairino team has developed proprietary core components including reducers and servo motors for collaborative robots, earning recognition from leading customers across retail, industrial, medical, wellness, and agricultural sectors.

Unlike the common "me-too" designs based on overseas products prevalent in the industry, Fairino insists on original, full-stack hardware and software R&D for its collaborative robot lineup. Working closely with end customers and partners, the company has significantly optimized product lifespan while using high-quality harmonic reducers, helping multiple industry-leading clients transition collaborative robot deployments from promotional showcases to scaled production environments.

To help customers implement flexible and adaptable collaborative robot operations, Fairino provides APIs compatible with multiple mainstream development environments, supports both embedded and remote cloud-based SaaS deployment, and offers a rich portfolio of proprietary industry-specific accessories — forming a comprehensive solutions matrix together with partner products and services.

Fairino founders Ting Yao and Xiangfeng Gong both graduated from Harbin Institute of Technology and bring years of experience in overseas robotics research and commercialization institutions. They each have successful entrepreneurial track records in robotics and intelligent equipment, with their previous ventures achieving leading positions in their respective industries. The core team has over a decade of experience in industrial robot body and core component R&D.

Xingshi Wang of Source Code Capital commented: "China's robotics industry has reached an inflection point. The essence of collaborative robots is the standardized replacement of human arm functions, with inherent advantages for open-environment human collaboration that can dramatically improve productivity. Their use cases have already far exceeded traditional industrial boundaries. Fairino founder Ting Yao and his team combine strong technical capabilities with sharp commercial instincts. By achieving in-house development of core components, they've built collaborative robots with exceptional cost-performance ratios, and established an open hardware-software ecosystem based on standardized hardware — greatly expanding the application scope of collaborative robots. Source Code Capital is delighted to partner with Fairino and looks forward to the company creating greater value for customers across all industries."