Sold over 100 million US dollars in 4 days, Shenzhen became the dark horse in the industry!

The robotics track seems to never lack hot topics. In 2024, the robotics track started strongly, and many technology giants including Nvidia and Microsoft invested in artificial intelligence startups.

Before this, many cross-border giants have already entered this field, whether it is the well-known leading companies such as Ecovacs, Dreame, Xiaomi, etc., or the service robot newcomers invested by Anker, etc., they have reaped great rewards overseas and all have high-scoring answers.

Shenzhen sales hit 4 days with over 100 million US dollars sold

If the era of sweeping robots going overseas was a joy for a few leading companies, then the new round of service robots going overseas is a carnival for the entire industry.

In 2023, the proportion of overseas revenue of most of the best-selling products in this category has been steadily increasing. For example, Ecovacs' overseas revenue proportion in the first half of 2023 increased from 26.5% in the same period last year to 34.3%. In the first seven months of 2023, Dreame's overseas revenue increased by 110% year-on-year, nearly doubling.

Do you think that the robot category is dominated by the above-mentioned leading enterprises in the overseas market? No, some new service robot companies are also making enviable profits.

At last year's CES , cross-border giant Hanyang Technology received 60,000 orders in just four days, with a total order value of over 100 million US dollars.

This splash caused a huge stir in the industry and also attracted more people in the industry to pay attention to Hanyang Technology.

Yien.com learned that Hanyang Technology ( Yarbo) was founded in 2015 and is headquartered in Shenzhen. It initially became popular in the global market with its snow-clearing robot brand Snowbot, and then increased product research and development, launching the garden robot Yarbo in 2022. The brand Yarbo won more than 60,000 global orders this time.

Yarbo , which has won high-value orders, is also favored by investors. At the beginning of this year, it won nearly 10 million US dollars in financing. In 2023, Hanyang Technology also completed four rounds of financing with a total amount of more than 10 million US dollars, led by many industry leaders such as Huaye Tiancheng and Liumai Capital. After several rounds of financing, Hanyang Technology has become the startup with the highest cumulative financing amount in the courtyard track.

The popularity of this track is extraordinary. Last year, in addition to Hanyang Technology, many startups also received financing, such as Xingmai Innovation and Zhongqing Technology, which focus on swimming pool cleaning robots; Pudu Technology, which focuses on commercial service robots. According to incomplete statistics, in 2023 alone, more than 10 startups received high-value financing, with the highest single-round financing amount reaching 500 million yuan.

In just a few years, Yarbo has achieved such a great success, which shows that it has profound skills. The company focuses on product research and development, and most of the core members of the team come from international companies such as Huawei and Husqvarna, a leading garden company. The traffic of its website has been increasing through the independent station channel. In the past three months alone, the total number of visits to its website has exceeded 100,000. Relevant data shows that this year, the company's revenue may exceed 100 million.

It has won 7 rounds of financing, backed by big companies such as Anker

Domestic technology giants have entered the robotics market through self-development or investment, and so have cross-border giants. Anker can be said to be a veteran in the investment community, with investments in cross-border sellers such as Zhiou Home Furnishing and 3C seller Maxicon. Anker has also entered the robotics market, investing in KeKe Technology.

Last September, the Chinese robot company KeSi Technology quietly launched an overseas crowdfunding platform and raised US$3 million in crowdfunding in just one month, becoming the number one crowdfunding success in the history of consumer robots on the crowdfunding platform.

It is reported that there were more than 800 Chinese projects launched on Kickstarter that year , among which consumer electronics and outdoor robots had the highest sales, which is enough to show the prospects of such projects. Loona, a brand under KeKe Technology, ranked third on the crowdfunding platform, and the top two were both lawn mowing robots, which can be said to be the best of the best.

At present, Keji Technology has won seven rounds of financing, and its investors include well-known industry giants such as Xiaomi, Anker Innovations, and Source Code Capital.

At that time, many people in China did not know much about KeKe Technology, but after further investigation, they found that KeKe Technology was established as early as 2014, and most of its team members came from major robot manufacturers such as Pixar, Samsung, and Amazon. After its establishment, KeKe Technology became well-known overseas with two major products, one of which is the educational robot ClicBot, and the other is the family pet robot Loona that focuses on the overseas market.

Loona is more about expressing the concept of companionship. It is like a cute pet with a sense of life. It can show a variety of emotions and movements, accompany the elderly and children, and has functions such as video interaction and mobile camera. In Japan, where the aging population is serious, Loona is very popular. After being launched on Makuake, Japan's largest crowdfunding platform, it raised 56.46 million yen in crowdfunding, exceeding the original target by 18,822% .

The monthly traffic of its key independent sites in the United States and Japan is stable at around 130,000, which is also good. It can be said that the overseas market has become a battleground for players in the service robot track, whether they are leading companies that have successfully listed or newly established start-ups.

The robot market continues to heat up, and many big sellers choose to go overseas

The good results of these hot-selling products are precisely because they have captured and catered to the needs of European and American consumers for related products. Take garden robots as an example. The garden has always been an important focus of life for middle-class families in Europe and the United States. Mowing the lawn, cleaning the swimming pool, and sweeping the snow are all actions they need to take to maintain the garden.

In recent years, the demand for such products has exploded, driving the rapid development of this category in the entire market. Taking the lawn mower robot market as an example, the compound annual growth rate is expected to exceed 12% from 2019 to 2025. In addition, due to factors such as the high unit price of products in this market and large profit margins, many companies have considered again and again and decided to enter this track.

In fact, domestic service robot companies have all chosen to turn their attention to overseas markets. It is not difficult to find that this is the result of the combined effect of market changes and other factors.

The price of domestic robots is getting more and more expensive. The overall price of sweeping robots alone is falling, and the price of leading brands can even drop to around 3,000 yuan. At the same time, many new players are also entering this track. The number of floor scrubber brands has grown the fastest, from 142 in 2021 to 206 in 2022.

On the other hand, compared with overseas companies, domestic robots have a higher cost advantage. With a mature supply chain system, domestic companies can reduce costs to a lower level. For example, the price of food delivery robots ranges from 50,000 yuan to 180,000 yuan, which is one-fifth cheaper than the price in some countries.

On the one hand, the domestic price war is intensifying, and on the other hand, the potential and cost-effectiveness of the foreign market are the dual factors that have led more companies to look overseas. However, it should be noted that the outbreak of this track requires continuous technological breakthroughs and market expansion. If sellers want to survive for a long time, they have to keep innovating.

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Can Technology

Hanyang Technology