Chinese AI sports-hardware company PONGBOT has completed a Series B funding round worth hundreds of millions of RMB, according to an October 11 announcement. Shanghai State Investment Pilot Fund led the round, joined by Hua Capital and Pudong Venture Capital, while existing investor BlueRun Ventures increased its investment.
PONGBOT began with table-tennis training robots before expanding into tennis and other sports. The proceeds will fund research into sports AI models, motion vision and training decisions, alongside international expansion and local marketing operations. The company plans to introduce products for additional sports and previously completed three rounds of Series A financing. [The Beijing News, in Chinese]