TELEXISTENCE

The company's primary business model is robotics-as-a-service (RaaS), where it deploys its robots to clients, primarily in the retail and logistics sectors, for a monthly fee. A major milestone for the company was a partnership with FamilyMart, one of Japan's largest convenience store chains. In August 2022, TELEXISTENCE began the mass deployment of its TX SCARA robots to 300 FamilyMart stores to automate the task of restocking beverage refrigerators. The TX SCARA robot uses an AI system called "Gordon" to identify which drinks are low and restock them, capable of handling up to 1,000 bottles and cans per day. This system utilizes NVIDIA's Jetson edge AI and robotics platform. In situations where the AI fails, a human operator can take control remotely using a virtual reality interface.

TELEXISTENCE has developed several robot models. The Model-T, its initial flagship remote-controlled robot for retail, was introduced in July 2020 but has since been discontinued. Its successor, the TX SCARA, was specifically designed for beverage restocking. The company is also developing its next-generation model, "GHOST," and humanoid robots like "Astra" in partnership with Seven-Eleven Japan. These developments are aimed at creating versatile, general-purpose robots that can handle a wider variety of tasks.

The company has secured significant funding to support its growth and expansion. It has raised over $210 million across several funding rounds. A major Series B funding round in July 2023 brought in $170 million from investors including SoftBank Group, Foxconn, Globis Capital Partners, and Airbus Ventures. This funding is intended to accelerate its business expansion into North America and enhance mass production capabilities through a partnership with Foxconn. The company's international team includes professionals from over two dozen countries.