(Yicai Global) May 31 -- Rokae Beijing Technology has raised CNY200 million (USD31.4 million) in its latest financing round led by venture capital firms Shenzhen Capital Group and Grand Flight Investment, the Chinese industrial robot manufacturer said today.

The proceeds from the C+ financing round will be used in research and development, industrial applications and commercial delivery, it said.

Rokae is building a smart factory with an annual output of 10,000 units in northeastern Shandong province which should begin operating in October. A new xCore control system should be available soon after the funding, a company insider said.

Rokae, which counts German rolling element bearings maker Schaeffler and Chinese smartphone giant Xiaomi among its clients, makes light industrial robots and next-generation flexible robots that are used in precision machining, medical treatment, auto parts assembly as well as scientific research.

Editor: Kim Taylor