Hanyang Technology has reached a new stage in the development of snow-clearing robots
Shenzhen Hanyang Technology Co., Ltd. ("Hanyang Technology"), headquartered in Shenzhen, recently announced the completion of a financing round of CNY 200 million.
The current round of financing of Hanyang Technology was led by Yuantai Investment Partners Fund, with well-known industrial investors and financial investment institutions following suit. Glacier Capital served as the long-term exclusive financial advisor. The financing funds will be used to improve the supply chain and mass production and delivery capabilities, increase R&D investment, and accelerate product optimization and iteration. Previously, Hanyang Technology had completed four rounds of financing, with well-known investment institutions such as Haochen Capital, Glacier Capital, Hua Capital, and Heroad Investments participating as investors.
Since its establishment in 2015, Hanyang Technology has been focusing on innovative technologies in the research and development, production, and sales of intelligent yard maintenance robots. It is currently the only company in the world that has commercialized consumer-grade snow removal robots and multi-functional yard robots.
In 2024, the company launched a full-payment pre-sale on its official website. With an average delivery cycle of five months, it achieved more than 6,000 user orders and an annual sales volume of over CNY 200 million. At present, Hanyang Technology has built production factories in Huizhou, Guangdong and Jiashan, Zhejiang. The annual output can reach more than 200,000 units. It is expected that the shipment volume this year can reach tens of thousands of units, achieving a 10-fold growth rate for three consecutive years. Meanwhile, the company has initiated Pre-IPO planning.
In recent years, the competition in the yard robot market has been fierce. Compared with the crowded vertical markets of lawn mowers and pool cleaning robots, Huang Yang, the founder of Hanyang Technology, discovered during market research that the snow cleaning scenario with strong immediacy and high rigidity demand remains a blue ocean market for global users. The global market of snow cleaning tools exceeds 5 million units per year, indicating broad market space.
In Europe and the United States, snow cleaning has regulatory requirements. Taking the United States as an example, according to data from FHWA and other sources, more than 70% of urban roads in the United States are located in snow areas. Single-family houses account for a large proportion of housing types among local residents. Among them, in 2021, out of a total housing stock of about 120 million, single-family houses exceeded 80 million. Every winter, homeowners have the need to clear the snow in front of their houses.
In 2018, Hanyang Technology launched the Yarbo Snowblower conceptual model and officially crowdfunded and released a genral modular robot, completing the first batch of deliveries in the winter of 2023. Official data shows that the activation rate of this robot exceeds 98%, and the return rate is almost zero. In May 2024, Yarbo launched the global pre-sale for its 2024 new products. Nearly CNY 100 million orders were locked in one month after the launch, and the order volume exceeded USD 2 million (CNY 14.6 million) on the official sales day. In June, the Yarbo robot entered the European market and made its appearance at the 2024 SPOGA+GAFA in Germany.