Sequoia, Meituan & Others Inject CNY 100 Mn into Robotics Startup Pudu
Two months after its Series B, Pudu Technology promptly moved forward to close another hundred-million-yuan-level round.
Pudu Technology, a Shenzhen-based startup specialized in smart delivery robotics, has closed its Series B+ financing, adding around CNY 100 million to the cash pool for business expansions in terms of geographic and application scenarios. The recent round was led by Sequoia Capital China and was followed by former investors such as Meituan-Dianping (03690:HK) and QC Capital.
Pudu's Series B financing was exclusively led by the Beijing-based Internet rising star Meituan-Dianping, with over CNY 100 million. The expansion of the investor pool partly indicates Pudu technology is not aiming to be only an auxiliary element in Meituan's food delivery business.
The company's major products are low-speed, autonomous, self-charging robotics designed to ferry goods and interact with customers in hospitality and service settings. BellaBot, which the company describes as a full-dimensional sensory delivery robot, features a linkage suspension system for added stability and a modular chassis with built-in obstacle avoidance sensors. Holabot is designed to collect plates, with a high carrying capacity (120 liters), water-resistant design, and gesture recognition.
The Sequoia investor commented on the investment in robotics, "Robotics is a new pattern in the labor force and it will soon be a service standard in several industries."