Pudu Robotics Secures Hundreds of Millions of Yuan in Series C4 Financing, on Top of $15 Million C3 Round in February
Pudu Robotics (the "Company"), the global leader in commercial service robots, has successfully secured hundreds of millions of yuan in its C4 financing round, marking the second time the Company has raised funds in 2023, following its previous US$15 million C3 round announced in February. The latest financing round reflects that the capital market is regaining confidence in the service robotics industry as a whole.
Pudu Robotics has established a strong presence in the global market, with sales figures that highlight its competitive edge. As of December 2022, Pudu Robotics has shipped over 56,000 units globally, and has expanded its presence across North America, Europe, East Asia, Asia-Pacific, the Middle East and Latin America, with its robots being used in over 60 countries and more than 600 cities worldwide. A 2022 CIC Research study showed that Pudu Robotics has become the manufacturer with the highest cumulative shipments of commercial service robots globally.
Notably, in February, Pudu Robotics announced a record-breaking order of 3,000 units of its robotic products from Skylark Group, Japan's leading catering and dining company. The Company's high-end delivery robot "BellaBot" particularly gained popularity worldwide, and its has snapped up over 80% in overseas catering market share.
As Pudu Robotics continues to expand its overseas market, the Company achieved a nearly 40% year-on-year increase in operating cash income in 2022, with annual shipments exceeding 20,000 units.
In a bid to deploy its services in more scenarios, Pudu Robotics has rolled out a slew of robot products for catering delivery use, and these robots have been put to wide use in restaurants, cafes, hospitals, hotels and office buildings.
Meanwhile, Pudu Robotics' global product line has extended to smart cleaning robots and smart disinfection robots, among others. Also, in mid-April, Pudu Robotics announced a strategic partnership with KONE, a world-leading elevator company, to develop and build smart building services.
As the Company continues ramping up its international presence and expanding its product lineups, Pudu Robotics' technical research and development capabilities have become even more vital.
On the hardware front, Pudu Robotics has independently developed high-performance core components such as laser radar, active cameras, motors and motion controllers. These breakthroughs have solved critical challenges the Company faced and significantly reduced production costs while ensuring a smooth and stable supply chain.
In terms of software algorithms, Pudu Robotics has developed core technologies for commercial service robots, such as VSLAM+, achieving integration of multiple technical solutions. For example, in March, the robot maker announced that it is working to leverage the power of its proprietary upgraded PUDU VSLAM+ technology to expand its service scenarios and facilitate a larger scale of robot deployment across multiple models.
By accelerating R&D, establishing comprehensive technological advantages, and creating an open ecosystem, Pudu Robotics aims to enhance the performance of its commercial service robots and serve a wider range of businesses and users.