Brain raises $114 million in funding, led by SoftBank Vision Fund

(Reuters) - Brain Corp, which develops technology used in robots, said on Wednesday it raised $114 million in Series C funding, led by SoftBank Vision Fund.

Brain Corp said its first institutional investor Qualcomm Ventures, the investment arm of Qualcomm Inc, also invested in the latest round of funding.

Qualcomm Ventures will retain a seat on the company’s board as part of the investment, Brain said.

The company develops artificial intelligence and self-driving technology used in commercial and consumer robots.

Vision Fund, which has raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics, is backed by Japanese billionaire Masayoshi Son’s SoftBank Group Corp and Saudi Arabia’s main sovereign wealth fund.

Reporting by Rishika Sadam in Bengaluru; Editing by Anil D’Silva