Startups dealing in consumer robotics have successfully managed to raise funding in recent years
New Delhi-Oct 19, 2016. Rednewswire/-
In the past five years, consumer robotic startups have managed to capture a 25 percent global robotic deal share. Around 40 percent of these deals are bagged by startups like UBTECH, Rokid and Anki. There has also been a rise in educational robotics that help children to learn coding. Seven such deals took place in the years 2014 and 2015 each. With the deals being projected in the current year, the number can be surpassed. Over 10 deals have been bagged last year in comparison to 5 in 2014.
The map given below shows the startups that have raised equity funding ahead of January 2013.
Here are a few highlights pertaining to each category:
Social robots have acquired the largest share of consumer robotic deals. These robots consist of entertainment and companion robots for home. UBITECH has hit the unicorn club ( raised $100 million) after receiving funding from Goldstone Investment, CITIC Securities International and CDH Investments in Series B. Turning Robot, a Chinese company has created an operating system for robotics and has launched a companion robot for children with a price as low as that of a smartphone. Olly, a London-based startup has raised $10 million with funding from Lightning Capital and Alliance Capital Ventures. Anki has managed to raise $52.5 million from JP Morgan Chase & Co., Two Sigma Ventures, Andreessen Horowitz and Index Ventures.
Robots that teach kids coding have attracted quite a lot of investors. The highest funded startup is Wonder Workshop that has raised $36 million equity funding from Google Ventures, Madrona Venture Group and CRV. Chinese startup Makeblock has been backed by Sequoia Capital with $6 million in Series A. Modular Robotics has also raised funding from Foundry Group.
China-based Yuneec has been backed by Intel Capital. Startups like xCraft, UVify, EHANG and OpenROV have also reached the early stages of funding. DJI Innovations has also been placed in this map as it also develops consumer drones like Phanthom and Mavec apart from manufacturing industrial robots. Big companies like Google, Intel and Foxconn have invested in many robotics startups.
Service robots assist in household work like vaccuming, cleaning fishtanks, cooking and bartending. They also include personal transportation robots and robotic arms. Till now 5 companies have raised funding which includes robotic arm Dobot and personal transportation robot Ninebot.