tech:

taffy

ABB investing $150 million in new China robotics factory; where robots make robots

ABB is investing $150 million in Shanghai, China to build an automated and flexible robotics factory; where robots make robots. The factory is expected to begin operating by the end of 2020.

The Kangqiao manufacturing center, near ABB’s China robotics campus, will combine the company’s connected digital technologies, including ABB Ability solutions, collaborative robotics and artificial intelligence research.

In 2017, one of every three robots sold in the world went to China, which purchased nearly 138,000 units, said ABB in a statement. The company employs approximately 5,000 people in Shanghai, and the company’s robotics businesses in China employ more than 2,000 engineers, technology experts and operational leaders in 20 locations across the country. ABB has invested more than $2.4 billion in China since 1992, with over 18,000 employees in total.

“The concept behind this factory is the same advice we give our customers every day: invest in automation solutions that provide flexibility and agility to grow in whichever direction the market goes,” said Sami Atiya, President of ABB’s Robotics and Motion division.

The Shanghai factory will be modeled as a digital twin, which will provide tailored dashboards for management, engineers, operators and maintenance experts.

In another development, ABB and the Shanghai municipal government has signed a strategic cooperation agreement focused on supporting industry, energy, transport and infrastructure in the region, and to support the “Made in Shanghai” manufacturing initiative. The agreement was signed by Shanghai Mayor Ying Yong and ABB CEO Ulrich Spiesshofer.

[Image courtesy: ABB]

Just in

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.