Win! Shenzhen cross-border company received two more rounds of financing

In recent years, the robotics sector has continued to be hot, with shipments increasing significantly. As a result, it has attracted widespread attention from capital, and industry financing has also continued to grow.

Hanyang Technology Yarbo received two more rounds of financing

Recently, the garden robot brand Hanyang Technology Yarbo has received two rounds of financing. The A1 round was jointly led by Huaye Tiancheng and Black Ant Capital, followed by Gengxin Capital China; the A2 round was exclusively invested by Liumai Capital, with a total financing of 20 million US dollars.

It is worth mentioning that this is not Hanyang Technology Yarbo’s first round of financing this year.

On March 16, Hanyang Technology Yarbo received over 100 million yuan in Pre-A round of financing, led exclusively by Haochen Capital, followed by Singapore Zelos Fund, Gengxin Capital China, angel investor Wang Long, Silicon Valley investor HP Jin, angel investor Cheng Xiaohua, Shenghong Shares Chairman Fang Xing, Mingyang Circuit Chairman Zhang Peike, etc. Gengxin Capital also serves as Yarbo's exclusive long-term strategic financial advisor. It is understood that this round of financing will be used for Hanyang Technology Yarbo's product production and overseas sales.

After three rounds of financing, Hanyang Technology Yarbo has become the startup company with the highest cumulative financing amount in the courtyard track.

According to public information, Hanyang Technology Yarbo was founded in 2015 and is an intelligent service robot research and development company. Its main business is the design, research and development, production, sales and service of courtyard intelligent robot products. The products are aimed at the global market, and there are offices in New York and Shenzhen . The company's main business goal is to provide family users with single-family villas in Europe and the United States with autonomous courtyard service robots that have multiple functions such as cleaning, entertainment, and spiritual companionship.

Since 2017, Hanyang Technology has started to develop snow-clearing robots. After 6 generations of products, Hanyang Technology has successfully commercialized the world's first snow-clearing robot, the snowbot, which has solved the previously insurmountable problems in the robot's power system, adaptability to complex ground conditions, and positioning, perception, and navigation in the harsh environment of low temperatures and heavy snow at minus 30 degrees Celsius.

In addition to the snow-clearing robot, Hanyang Technology has also launched a virtual boundary intelligent lawn mowing robot, the world's first intelligent leaf blower, etc., which have been recognized by consumers.

In 2022, Hanyang Technology launched the garden robot product Yarbo, which became the product with the highest crowdfunding amount in the global consumer robot track.

The product was launched on the North American crowdfunding platform Kickstarter in September 2022. The crowdfunding amount exceeded US$1 million in just one hour after it went online . During the entire crowdfunding period, the product raised a total of US$3.45 million , becoming one of the companies with the most crowdfunding funds in the consumer robot track.

It is understood that this product can achieve different types of garden work autonomously with the same body by replacing different functional components . The base station is very powerful, with interchangeable modules, a virtual boundary, no need to bury wires, and uses the precise positioning system independently developed by Hanyang Technology, which can achieve automatic obstacle avoidance, and can complete intelligent path planning, multi-region planning, and adapt to a variety of different terrains.

The intelligent robot track is booming! Many overseas companies have received capital favor

With the improvement of people's requirements for quality of life and the advancement of technology, smart cleaning robots have become more and more popular. This track has ushered in rapid growth. Hanyang Technology Yarbo is targeting the outdoor courtyard cleaning market.

According to Frost & Sullivan's industry survey report, there are currently approximately 250 million private gardens in the world, 100 million in the United States, and more than 80 million in Western Europe, Northern Europe, and the United Kingdom. The garden cleaning market has broad development prospects.

Europeans and Americans often live in single-family houses with courtyards, so the number of private gardens accounts for a relatively high proportion in the world.

Driven by huge market demand, major domestic and foreign companies have launched different types of garden cleaning robots.

In the field of garden cleaning, there are often different scene requirements. At present, the products with more development potential are lawn mower robots, pool cleaning robots and snow removal robots.

Taking lawn mowing robots as an example, according to surveys, the global lawn mowing robot market size is expected to reach US$3.5 billion in 2026, and the compound annual growth rate from 2021 to 2026 is expected to reach 12%.

Competition in the smart cleaning robot market is also fierce. Listed companies that have entered this market include Ecovacs, Ninebot, Daye, Greebo, etc., as well as several startups that have received financing, including Hanyang Technology, Ruichi Intelligence, Songling Robotics, and Laifei Intelligence.

Under the influence of the global market trend of intelligent manufacturing, it is a good time for domestic intelligent robots to go overseas.

When smart robots go overseas, they must target niche markets and accurately position the company itself.

With the aging of the global population and the continuous rise in labor costs, replacing human labor with machines has become a general trend.

Based on current market demand, the value of service robots is being further explored.

In addition to smart cleaning robots, commercial delivery robots and logistics robots also have broad development prospects.

Take Purdue, a commercial delivery robot company, as an example. It has long been targeting overseas markets, and its overseas sales share has increased year by year, rising from 8% in 2019 to more than 80%.

As of December 2022, Purdue Technology's cumulative shipments in the global market have exceeded 56,000 units, and it is still maintaining a rapid growth trend.

Purdue Technology once announced that the company's operating cash income in 2022 increased by nearly 40% year-on-year, and annual shipments exceeded 20,000 units.

In addition, Purdue Technology recently announced that it has completed a C4 round of financing worth hundreds of millions of yuan, and the total amount of financing has exceeded 1 billion yuan.

In the field of logistics robots, the more well-known overseas company is Geek+.

Geek+ started to expand overseas in 2017. Its main products are logistics robots, which are sold to more than 40 countries and regions around the world. The order amount in 2022 exceeded 2 billion, and the overseas revenue in 2022 accounted for more than 70%.

Geek+'s products have great advantages. It has a robot product line covering all categories, including full solutions for storage, picking and sorting in warehousing scenarios, as well as industrial handling robots and unmanned forklifts for manufacturing scenarios.

It is worth mentioning that Geek+’s autonomous mobile robots ( AMR) have ranked first in the world in market share for three consecutive years.

Geek+'s long-term rapid development has also placed it at the top of the industry, and it has therefore been favored by capital.

On August 8, 2022, Geek+ announced that it had completed a new round (E1 round) of financing of US$100 million, jointly invested by Intel Capital, Xiangfeng Growth Fund and Qingyue Capital, with a post-investment valuation of over US$2 billion.

To date, Geek+ has completed a total of nine rounds of financing, and set an industry record of US$200 million in a single financing in the C round. The capital injection has accelerated its development in the logistics robot sector.

In summary, the intelligent robot track currently has broad development prospects. For domestic robot companies, they can actively enter the international market, select the right segmented track, and participate in international competition.

Financing

Hanyang Technology