The industrial robot track has ushered in the real draught under multiple catalysts, and the Cake of the Chinese market is the most attractive.
In 2019, China exported more industrial robots than it imported for the first time, and the launch of the Science and Technology Innovation Board in the same year helped revive the long-slope, thick-snow track. In 2020, affected by the epidemic, the industrial robot track, which experienced a two-year industry trough, began to recover strongly.
According to the China Robot Industry Development Report (2021), the global robot market is expected to reach 33.58 billion US dollars in 2021, and China's robot market is expected to reach 83.9 billion YUAN, among which the market size of industrial robots is up to 44.57 billion yuan. China saw 69,800 new robot-related enterprises in 2020, the most in a decade.
According to incomplete statistics, from January to October this year, a total of 70 financing events took place in the field of industrial robots in China, with a total financing amount of more than 18.2 billion YUAN, more than the whole year of last year in both quantity and cumulative amount. Many of these segments have become the focus of capital pursuit.
Lenovo Venture partner Wang Guangxi believes that the current industrial robot field of each subdivision of the track concept division is not consistent, he thinks that can be divided into collaboration, mobile and special three categories, the production line of automation equipment robot is a category, that is, the so-called collaborative robot, Including automatic detection on the production line, automatic mechanical arm and automatic equipment integrated with automatic instruments are in this category; From the perspective of mobile robots, we can classify them from production to logistics. Indoor mobile robots in production lines and storage belong to one category, logistics vehicles in outdoor parks belong to another category, mobile robots in the category of unmanned driving belong to one category, and commercial service robots belong to another category. Special robot is the third category, they carry the inspection and mapping functions, construction robot can be classified as mobile robot can also be classified as special robot.
Different VC options
According to IT Orange data, during September this year, there were 25 domestic industrial robot financing events in a single month, accounting for nearly half of the financing over 100 million yuan, which is another high financing scale after the small peak in January and April. To be specific, Hefei Xinyihua, Siling Robot, Shunzao Technology, Purdue Technology, Qinglang Intelligent, Hairou Innovation, Mecamand, Trifo, Future Machine each completed hundreds of millions of yuan of large financing in September.
From the scale of assets involved, cooperative robot track financing scale is far larger than any previous year. According to incomplete statistics of GGII, in the first half of 2021, there were 10 financing events in the field of collaborative robotics, with the financing scale exceeding 3 billion yuan, exceeding the total amount of the whole year in 2020. Each financing was over 100 million yuan, and the average single financing amount exceeded 300 million yuan. From January to April, 20201, Jieka, Yuejiang Technology and Mecha robots in the field of collaborative robots all obtained financing of 100 million yuan.
From investment institutions category preferences, more popular, mobile machine track sequoia years in the field of mobile robot to achieve 6 times, the soft innovation, mei card DE man, purdue technology are obtained the sequoia continuous infusion, in the near future, located in AI + 3 d vision solution provider may kaman is today's hottest star industrial robot track, Sequoia recently completed its third addition. In the mobile robot track frequently fell the head institutions and Lenovo venture capital, source capital and IDG capital, Lenovo venture capital only in the first half of this year to mobile robot Ailette and Gazhi technology have two consecutive notes.
Warehousing and logistics robot track also saw a boom in financing this year. In the first half of this year, there were more than ten investment and financing incidents of warehousing and logistics robots. Hairou Innovation, the global container storage robot benchmark enterprise, announced in September that the company has completed two rounds of financing with a total of more than $200 million, backed by five sources, Sequoia, Source Code and Capital Today four giants.
Compared with the large scale of some institutions, there are ALSO US dollar VC institutions such as BAI Capital to take a different approach to this track. Since this year, BAI Capital has invested in the great Robot that provides intelligent construction schemes for buildings.
BAI senior investment manager XingYao peng said that he watched industrial robot track for a long time, for technical reasons, he felt that now the collaboration of the robot has the characteristic of "lego", a robotic arm or money and goods flow car mobile machines, once from a production line to move to another, you need to customized design team of industry line, Supporting industries also need to do related integration, resulting in many emerging robot companies are changing to the type of integrator, and their capital utilization efficiency is not too high. This is not a dollar VC institutions particularly like the type, may be more suitable for the late robust PE to do investment.
It is not difficult to find that nearly half of the investment in this year's industrial robot circuit is distributed in round A, and half is between round B and round C. The overall trend is that the rounds move later, and the phenomenon of the old club adding more bets is more intensive.
Qing, vice President of capital investment Liu Tiancheng told news interface, two years in advance of the industrial robot belongs to the layout stage, each circuit layout some start-up capital into the bureau, now the head enterprise in slowly up the potential income, institutions will want to help enterprise fast growth in this point, this year's investment in basic it is before filling was cast enterprise more. In addition, the whole robot circuit is hot this year, not limited to industry, such as service robots, cleaning robots have received a lot of financing.
In addition to financial returns, some top industrial investment institutions will select special robotics start-ups based on their own background to create synergy with their own business.
As lenovo's technology industry fund, lenovo venture since 2017 has invested in the industrial robot track cloud motion technology, the future robot, eli, Syrius torch magnitude well-known enterprises, to rounds almost all concentrated in A wheel and the Pre - B rounds, investment direction is given priority to with mobile robots, robot solution provider. In the opinion of wang Guangxi, its partner, industrial robot track is a big river and a big ocean with wide application fields, and there are many opportunities to run out of large and medium-sized enterprises in the future. At present, the backward movement of the track may be related to the participation of many institutions that are oriented towards growth stage or value type. Wang Guangxi believes that Lenovo Venture Capital, as an investment institution in the science and technology industry, has a relatively long-term holding of the target company, so it should not only aim at investment returns, but also adhere to the layout of early-stage technology companies and promote the business ecological coordination between the invested enterprises and Lenovo.
BAI Capital Xing Yaopeng told Jiemiannews that if you look at the valuation multiple of industrial robot companies after listing, you will find that there is still room for growth with software companies. , one industry investors also said the identity, he noted that in the past year or two, more capital inflows to make track for a robot to have certain valuation bubble, but the company listed after the ban will face value return, such as some medical robots listed after the valuation and PE multiples quickly fall back to a reasonable interval, compared to the software to track, The market for industrial robots will be more stringent, and it is difficult for capital to push the way to irritate the explosive growth. Steady and steady is the best way for start-ups to survive.
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