Softbank-Backed CloudMinds Is Seeking a $500 Million IPO for Cloud Robotics Technology
Are you afraid of a dystopian future in which robots overtake humans? Well, CloudMindss probably won’t make you feel any better. CloudMinds is a Beijing-based company that wants to give robots a “cloud brain” and a “nerve network” to make them smarter and capable of working together.
To help fund the next leg of its growth plan, CloudMinds is looking to raise $500 million in an initial public offering this year. Should investors pay attention to this upcoming IPO?
Massive opportunity for robotics
Robots are coming. Society already uses them to sweep floors, manufacture cars, and record aerial videos, but you should expect them to play a bigger part of our lives in all sorts of fields. Currently, robots are singularly designed to operate in narrow use cases and perform simple tasks. However, more sophisticated robots capable of performing a variety of functions may soon be connected to the internet and will need to be managed with sophisticated software to get the most out of them.
CloudMinds has built a cloud system which enables humans to manage a fleet of robots and provides them a secure network to communicate. The company refers to the two critical components of its system as the “cloud brain” and the “nerve network.” The cloud brain is a software layer that controls all aspects of a robot’s function including its vision, voice detection, and movement. The nerve network is a layer of secure communication that allows the cloud brain to communicate with the robot’s hardware.
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