RobotMeta (启玄科技), a welding robot startup, yesterday announced the close of a pre-Series B round of financing valued at tens of millions of yuan, Chinese tech media outlet 36Kr reported.
The round was backed solely by GRC SinoGreen Fund, giving the Shenzhen-based firm a post-money valuation of US$100 million and more.
Media reports say the firm plans to use the raise to finance its R&D investment into high-performance welding robots, build sales channels worldwide and enhance service standards and customer experience.
Founded in September 2017, the company is among dozens of players that crop up to manufacture flexible welding robots customized for small- and medium-sized enterprises and workshops.
The company said its revenue multiplied in 2023, thanks to a suite of products that meet the needs of smaller businsses.
Its product line currently consists of three models of adaptable robotic arms for welding purposes, namely, MetaA, MetaK and MetaX.
Image credit: Unsplash
They can change in shape depending on environmental conditions at work. What’s more, the biggest highlight is that they are operated via a remote wireless controller like those used in playing video games.
Visualized interfaces and ease of operation offered by RobotMeta’s devices are a far cry from a set of elaborate procedures traditionally required for first-time users of robotic arms.
They include the need to familiarize oneself with programming on the Robotic Operating System (ROS).
This greatly reduces the barrier to adoption of welding robots, especially for individuals or small-time workshops who lack the proper training.
According to a study by huaon.com, a market information portal, sales of welding robots in China rose from 23,000 units in 2016 to 41,600 units in 2021.
This figure is forecast to more than double to reach 10,300 units by 2026, with a CAGR of 15%, the study said.