Chinese Internet game distributor Kalends plans to invest USD800,000 into American new-generation robot company Woobo Inc.
With this deal, Kalends will gain a 20% stake in Woobo as well as one of the three director positions. Kalends will assign Zhou Yahui as the director of Woobo.
Woobo says it is committed to the development of AI technology-driven interactive robots. The company was established in 2015 and its product prototype has completed development. Its major technologies include artificial intelligence, human-computer interaction, voice communications, and robot.
Commenting on the risks of the investment, Kalends' representative said AI robots are still an emerging industry in China and still undergoing development. Most of the AI technologies are not mature and people need time to accept AI-related products. The development of AI robot is influenced by talent, technology, capital, policy support and market environment.
The company also says development of AI robot has potential risks and it may bring adverse effects to the operation of the company if the development could not meet expectations. In China, there are thousands of companies all claiming to be leaders in this field, but there are still no true winners.
Kalends' main business is game distribution. However, the company recently enhanced its strength in Internet, Internet finance, and overseas acquisition. In January 2016, the company announced plans to acquire a 60% stake in Grindr, the world's largest homosexual social network, for USD93 million.