NAGOYA (Jiji Press) — Chubu Electric Power Co. said Wednesday that it has invested in Groove X Inc., a robotics start-up based in Tokyo.
The power supplier serving the Chubu region of central Japan acquired part of new shares Groove X issued under a third-party allotment plan. Chubu Electric did not disclose the amount of the investment or the ownership ratio.
Groove X is currently developing a family robot named Lovot, whose shipments are slated to start in October. The robot will be equipped with features that can be used to keep watch over children and elderly family members for their safety.
Such safety functions are expected to be in high demand as Japan grapples with the rapid aging of society.