Taiwanese electronics manufacturer Foxconn Technology has invested $30m in Hong Kong firm Robocore to expand into the medical and elderly care robotics market.

Robocore Technology, a partner of Hong Kong Science & Technology Parks (HKSTP), has completed its series D funding. Foxconn has invested up to $30m in Robocore’s subsidiary, RoboTemi Global, marking its entry into the smart robotics market.

This investment begins with an initial $10m for a 6.6% equity stake, with two additional tranches of $10m each planned for the next two years.

“This is more than a capital injection,” said Roy Lim, CEO of Robocore (www.robocore.ai). “It’s an affirmation of our future prospects. With Foxconn’s support, Robocore aims to achieve a five-fold revenue increase by 2028.

Eric Or, acting COO of HKSTP (www.hkstp.org), added: “Robocore’s growth signifies that Hong Kong’s tech ventures can firmly establish their position on the global stage.”

Robocore’s products are deployed at nearly 20,000 sites worldwide, including hospitals, elderly homes and retail chains. The company plans to use the funding to strengthen its telemedicine business and expand globally.

Established in 1974 in Taiwan, Hon Hai Technology (Foxconn, www.foxconn.com) is the world’s largest electronics manufacturer. In 2024, revenue totalled $208bn. To learn more, visit www.honhai.com.