TusStar has participated in a series A round for smart robotics technology developer TimeRiver.

TimeRiver, a China-based smart robotics technology developer, has raised $15m in series A funding from investors TusStar, an incubator linked to Tsinghua University, DealStreetAsia reported on Friday.
The round was led by ZWC Holdings and also featured Baidu Ventures, a corporate venture capital subsidiary of internet group Baidu, and Lotus Lake Capital.
TimeRiver produces industrial robotics technology. Applications for its offering include derusting ships, detecting and repairing flaws in thermal power generators, chemical tank polishing, high-speed rail inspection and pipeline maintenance.
The company also offers fully customised robots that can be adapted to the client’s specific requirements.
TimeRiver previously raised $2.8m in pre-series A financing led by Baidu Ventures in April 2020, when Zhineng Dianwang Ventures and Panda Capital also took part.
– Additional reporting by Robert Lavine

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
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