Capital and Business Alliance Agreement with Yamazen Corporation
Ascent Robotics and Yamazen Corporation signed a business alliance agreement on January 31, 2021, involving a capital investment in Ascent. Yamazen will acquire Convertible Equity rights issued by Ascent, while Ascent will use the procured funds to accelerate development.
Outline and purpose of the capital and business alliance:
Ascent has developed a group of intelligent solutions for industrial robots and autonomous mobile robots that utilize AI, and has begun selling and providing software that utilizes these intelligent solutions to the manufacturing and logistics industries. Yamazen handles a wide range of equipment for production sites, including labor-saving and automation robots, machine tools, industrial equipment, etc. and has a particularly strong track record in introducing such equipment to production sites. In addition, Yamazen has sales offices in major cities in 16 countries around the world, including Japan, and is expanding its sales channels globally.
Through this alliance, Ascent will use the funds raised to further accelerate its research and development, introduce attractive solutions for the rapidly expanding automated robotics market in a timely manner, and utilize Yamazen’s global sales channels to further expand its business in the future. Yamazen will begin selling robot systems equipped with Ascent’s software solutions to a wide range of customers in Japan and overseas, utilizing its own global sales channels. Through this business alliance, Yamazen will actively promote the development of new customers and differentiated labor-saving and automation proposals in addition to the products it already handles.