Kalends, a China-based internet game distributor, is planning to invest USD$800,000 into Woobo Inc., an American new-generation robot company. (Photo : YouTube)
Kalends, a China-based internet game distributor, is planning to invest USD$800,000 into Woobo Inc., an American new-generation robot company.
The deal means that Kalends will be entitled to 20 percent stake of Woobo, together with one of the three positions of a Director. There are reports that Zhou Yahui is nominated for the position of one of the directors of Woobo.
It is reported that one of the representatives of Kalends, while commenting on the risks of the investment, said that Al robots is still a startup company in China, and is at present undergoing development. He expressed his apprehensions on Al technologies not being matured, and that people will need time to accept products that are Al related. He also pointed out some information towards the potential risks involved during the phase of the development, and could have adverse effects on the interests of the company.
The representative also expressed his concern on the risks involved, especially if the development is unable to meet the expectations. He continued as saying that in spite of thousands of companies claiming to be leaders, a true winner is yet to surface.
Woobo, on the other hand, said that it was committed to the development of interactive robots that are driven by Al technology. It also said that the major technologies include interaction of human-computer, artificial intelligence, voice communications and robot.
Although Kalends is a big game distribution company, it has strengthened its stronghold in internet, overseas acquisition and internet finance. The latest news of the company is that it has plans of acquiring 60 percent stake of Grindr, the largest homosexual social network site, for USD$93 million.
