GQY Video (300076) today announced that in order to realize the company's intelligent service robot industry development strategy, the introduction of overseas advanced technology, the development of the robot industry, and lay the foundation for the company's wide-ranging multinational business, the company plans to use the super-raised funds of no more than 9 million yuan Investment shares in American Jibo Corporation. GQY Video will purchase 1.17 million shares in A-1 round of preferred shares issued by Jibo for USD 1.4 million (approximately RMB 9 million), which represents 8.75% of the total number of A-1 round of preferred shares to be issued. Upon completion of the capital increase, GQY Video will hold a 1.1% stake in Jibo. Founded in 2012, Jibo is headquartered in Boston, Massachusetts and has an R&D center in Silicon Valley, California. Founded by Cynthia Breazeal, an MIT professor. The company has about 50 employees, of whom 30 are R&D personnel. It is expected that the number of employees will increase to 124 in 2016. Jibo's main products are family-oriented social service robots. Jibo robots can be used as personal assistants, photographers, storytelling and actions, and recognize people's faces and expressions. In addition to these built-in functions, Jibo also provides development platforms. Help application developers develop other applications on the Jibo Android platform, similar to Apple and Google's application development platform. Jibo Company is in the final stages of product development and it is expected that approximately 5,000 units of the first batch of products will be shipped to early scheduled users in March 2016, and mass production shipments will be available in May 2016, mainly for the US market. According to GQY Video, Jibo’s business in the R&D, production, and sales of smart home robot products is complementary to and synergistic with the industry direction of the company’s domestic service robots.
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