RIYADH: Softbank Robotics, the robotic arm of Softbank Group, is all set to debut in Hong Kong, as the company has agreed to buy a minority share in cleaning technology startup Avalon SteriTech Ltd, according to a Bloomberg report.
The report states that Softbank Robotics will buy a five-percent share in Avalon SteriTech.
As part of the deal, Kent Yoshida, chief business officer at SoftBank Robotics Group, will join Avalon SteriTech's board of directors.
The financial details of the transaction have not yet been disclosed.
Avalon SteriTech CEO Lewis Ho said that the company is considering conducting a series A funding round to help fund its growth plans. The company also has plans to expand into the US, Australia and the UAE markets.
