RobotPlusPlus, a leader in aerial work robots, today announced its Series B funding round of US$15 million, bringing it to approximately US$35 million in total investment since its founding in 2017. This latest funding was led by Meituan, China’s leading tech and online retail company, and Fosun, a global innovation-driven consumer group.
RobotPlusPlus plans to use the new capital to accelerate its R&D timeline and expand its global presence. New robotic offerings will be released for cargo hold cleaning, tank painting, and facade cleaning, in addition to upgrading current products by integrating more autonomous technologies.
“Our latest round of funding contributes to the positive momentum we have been building over the past year. With a growing market share across our key territories, we look to continue to deliver more transformational results to our current and future clients,” said RobotPlusPlus founder and CEO Hua-yang Xu.
With a mission to “empower humans with robots,” RobotPlusPlus has a portfolio of robotic solutions for crucial industries such as maritime, ship repair, petrochemicals, and power generation. The Company focuses on addressing the need to improve aerial work safety for operators while improving the efficiency of Inspection, Maintenance, and Repair (IMR) solutions and lowering operating costs for asset owners.
This has led RobotPlusPlus to be a market leader in magnetic crawler robots, with hundreds of robots already sold to clients worldwide. With its large team of skilled engineers and operators in place, RobotPlusPlus also provides Robot as a Service(RaaS) services to clients, enabling them not only to offer timely and cost-effective services but also to gain insights into industrial application scenarios.
“While we’ve previously focused on the Chinese market, 2021 has brought us more success outside China. We’re looking forward to making our solutions available to a broader audience and cementing our position as a key player globally,” stated Andy Lu, partner & SVP of RobotPlusPlus.
An example of this ambition is an upcoming office opening in Singapore to expand the Company’s ability to serve the Asian and Middle Eastern markets.
“An aging workforce, rising labor costs, frequent aerial work-related accidents, and the COVID-19 pandemic have had an accelerative effect on the aerial work robotics sector,” commented Pu Xiao, investment manager at Fosun. “RobotPlusPlus’ mission is to empower humans with robots while helping increase operational safety and productivity. We’re excited to support RobotPlusPlus in leveraging AI and RaaS to optimize aerial work environments and enable robotic applications.“