Chinese food delivery robot maker PuduTech bags funding from Sequoia, Meituan, others

Photo by Franck V. on Unsplash

Shenzhen-headquartered Chinese food delivery robot maker Pudu Technology Inc (PuduTech) has closed its Series C round of financing at 500 million yuan ($78 million), according to a company statement on Tuesday. 

The latest round attracted an undisclosed strategic investor while return backers, Sequoia Capital China and Chinese consumer product and retail service giant Meituan, made a follow-on investment. 

Meituan had initially invested over 100 million yuan in July last year in the company’s Series B round. The following month, Meituan had participated in a similar-sized Series B+ round led by Sequoia Capital China. 

Chinese global investment bank Taihecap served as PuduTech’s financial advisor for the deal. 

With the fresh capital, PuduTech aims to advance its technology innovation, pipeline product matrix, usage scenario analysis and market development. 

The five-year-old PuduTech, which develops indoor smart delivery robots, leverages computer vision, autonomous positioning navigation, and motion control. Its flagship products like BellaBot, HolaBot and PuduBot cater to sectors such as restaurants, hotels, hospitals, office buildings, among others. 

Its automatic mobile robot (AMR) offerings are exported to over 60 countries and regions. In China, its top clients include JD.COM, property major Country Garden, hot pot restaurant chain giant Haidilao International Holding, among others. 

PuduTech promoter Tao Zhao holds a 25.55% stake in the company followed by global online travel platform TripAdvisor’s subsidiary Kuxun with a 20% equity interest. 

QC Capital and Sequoia Capital China own 7.87% and 7.58% stakes, respectively. QC Capital had joined hands with Rongquan Investment to invest 50 million yuan in PuduTech’s Series A round in 2018. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.