Shenzhen-based Pudu Tech (Chinese: 普渡科技) announced the completion of its Series C4 financing round on May 4, raising hundreds of millions of RMB.
Pudu Tech is a national high-tech company that develops, designs, manufactures and sells commercial service robots with core technologies of low-speed autopilot, robot motor drive and motion control, and main products of delivery robots and sterilization robots. Pudu's robots are widely used in restaurants, hospitals, schools, office buildings, government halls, Internet bars, KTVs, airports, subway stations and other scenarios.
Pudu Tech was founded in 2016, and after seven years of development, Pudu Tech has built hundreds of service outlets around the world, operated in more than 60 countries and regions around the world, accumulated shipments of more than 56,000 units, and developed into a global leader in the field of commercial service robots. While being doubly recognized in the market, Pudu Tech has also been favored by capital, and has received over 1 billion yuan of investment from well-known industrial investors and funds such as Meituan(Chinese): 美团), Tencent(Chinese: 腾讯), Sequoia(Chinese: 红杉资本), Shenzhen Investment Holdings(Chinese: 深投控), CGTI Fund(Chinese: 大湾区基金) and Puhua Capital(Chinese: 普华资本).
In 2022, China's service robot market will grow rapidly, with demand in education, public services, and other fields becoming the main driving force. The market size of China's service robot market is expected to reach $6.5 billion in 2022. By 2023, with the further expansion of emerging scenarios, China's service robot market size is expected to increase to $8.3 billion.
Pudu Tech's overseas business accounts for more than 70% of the company's total business, with a rapid growth of more than 5 times yearly. Meanwhile, the overseas catering market share is more than 90%, taking the lead as a national high-tech enterprise with the first overseas market share of Chinese enterprises, and it is currently the only global one-stop provider of commercial service robot solutions. In addition, Pudu Tech has sold more than 2,000 units in the Korean market and won first place in customer satisfaction ratings for three consecutive years. To date, Pudu Tech has established a development base in six regions, including North America, Europe, East Asia, Asia Pacific, the Middle East, and Latin America. Its robots have been well sold in more than 60 countries and regions around the world, covering more than 600 cities, becoming one of the representative companies of China's "intelligent" manufacturing abroad.
The service robot market is highly competitive, with domestic representative companies such as Ecovacs(Chinese: 科沃斯) and Siasun(Chinese: 新松), and internationally renowned companies such as iRobot from the US, Softbank from Japan, and Dyson from the UK.
Pudu Tech's current round of financing was exclusively invested by Yuedu Capital (Chinese: 阅度资本). In February this year, Pudu Tech just completed more than 100 million yuan of Series C3 financing, which was exclusively invested by Puhua Capital.