SoftBank's robotics arm invests in Hong Kong-based startup Avalon SteriTech
Whiz Gambit, an AI-powered commercial disinfectant robot jointly developed by Avalon SteriTech and SoftBank Robotics Group.

Asian Tech Press (Apr. 20) -- SoftBank Group Corp.'s robotics arm invested in Hong Kong-based cleaning technology startup Avalon SteriTech, marking the company's first capital contribution in the city.

SoftBank Robotics Group Corp. (SBRG) said Wednesday in a statement it will own approximately 5% stake in Avalon SteriTech's disinfection business, after making a strategic equity investment in the Hong Kong-based startup.

Upon the completion of the transaction, Kenichi Yoshida, chief business officer of SBRG, will take part in Avalon SteriTech's board of directors.

SBRG said the transaction is expected to close by the end of April 2022, but did not disclose further financial details about it.

The investment follows an existing joint venture, founded in March 2021, developing products and technologies for cleaning and bio-decontamination. And the joint venture has developed Whiz Gambit, an AI-powered commercial disinfectant and cleaning robot.

Avalon SteriTech is considering conducting a series A funding round to help fund its growth plans. It also plans to grow in countries such as the U.S., Australia and the United Arab Emirates, and is in talks with partners to enter into new markets.

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