PuduTech Raised USD 7.8 Million for Series A led by QC CapitalJune 14, 2018 | PuduTech
The industry-leading delivery robot company, PudeTech, has completed Series A funding of USD 7.8 million (RMB 50 million) in recent days. Zhang Tao, the founder of PuduTech, stated that the funds will be used for marketing, sales channel construction, R&D and team expansion.
PuduTech specializes in delivery robots and low-speed autonomous driving. The core technologies include computer vision, robot autonomous positioning navigation, multi-robot collaboration, robot arm design and motion control, robot universal chassis, smart interaction and so on. PuduTech’s delivery robots have been used in many industries such as restaurants, hotels, express delivery, logistics and warehousing.
Zhang Tao revealed that team members in PuduTech have extraordinary love for robots. In their previous work, they developed low-speed self-driving cars, robot vacuum cleaners, home service robots, kitchen robots, pipeline robots, and industrial robots arms, surgical robot arms, industrial automatic guided vehicles, educational robots, etc. It is because of the accumulation in the field of robotics that several founders of PuduTech can not only know how to commercialize the robots in the short term, but also have their vision for the company development in the long term.
PuduTech's first product, PuduBot, won the Red Dot Award in April 2017, and has since then become a hit in the market. It can be used in restaurants, hotels, hospitals, etc. Before launching PuduBot, most of the indoor delivery robots are humanized with a suspended tray in front of the body. Such design is very likely to lead to low efficiency, high gravity center, lack of safety, and homogeneity. PuduTech has redefined the delivery robot, allowing it to return to the essence of “distribution” and improve its efficiency. As a result, companies such as restaurants and hotels can save operating costs by adopting PuduBot. Peng Xin, the founder of QC Capital, thinks PuduTech’s ability to innovate products from the perspective of its essence is the root cause for him to invest in.
PuduBot is one of the few products in the industry that can achieve mass production and sales. Till now, the signed sales order has achieved over 1,000 units. After series A funding, PuduTech will increase its input in marketing as well as sales channel construction, and continue to widen the gap with the second-tier delivery robot company. In addition, PuduTech has also developed several new robots that will be released and sold soon. The core technology developed by PuduTech has platformized, and can be adapted to different vertical industries to form various robot solutions. This kind of business model will give birth to a 100-billion-level delivery robot market, which is much bigger than the drone market, so in this area, there may be more companies whose scale will be larger than DJI.
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