Excelland Technology Obtained Round C2 Financing Led by Chengding Fund and YF Fund

Shenzhen Excelland Technology Co., Ltd. announced that it had recently finished a new round financing. The Chengding Fund of Shanghai City Investment (Group) Co., Ltd. and YF Fund were joint lead investors, Wuxi Xincheng Group, 58 Industry Fund and Guanda Group were co-investors, some shareholders continued the investment in this round. This is successful follow-up C2 Round financing of 200 million RMB that Excelland Technology announced it had obtained first Round C financing in June.

Established in March 2013, Excelland AI is a commercial service robot company dedicate to providing reliable and steady commercial delivery robot solutions for customers worldwide, with robot products covering multiple indoor and outdoor scenarios, including entertainment, F & B, hotel, and business park and schools. Mr. Gu Zhen Jiang, the general manager of Excelland Technology, said, "currently, we integrate indoor and outdoor delivery robot scenarios effectively and rank TOP 2 in the hotel and KTV market. It demonstrates our technical advantage and market development ability.   

Excelland Technology has two standards in selecting robot application scenarios: 1. Check whether it has many delivery demands and whether the robot could empower manual operation efficiency; 2. Check whether the busiest time of the robot is also the same as the peak time of business peak.

Excelland AI develops the indoor Application based on the two standards by providing robots in hotel and KTV markets to meet instant delivery demands, such as hotel supplies, drinks, and food. The outdoor application scenario combines the delivery and takeaway demand in last three 3 km. In terms of e-commerce and courier services, high delivery costs are the industries' pain points. On the one hand, the labor shortage lead to increase labor costs. According to relevant data, the delivery fee of several express delivery companies increased by RMB 0.1/order from September 1, 2021.

On the other hand, delivery is affected by weather and safety, and it is tough to realize 7*24 h door-to-door service. Deliveryman will be challenging to deliver under extreme weather or in some closed parks. Such a variety of factors restrain terminal delivery efficiency, cost and experience.

Excelland Technology's outdoor delivery vehicle' Yogel 'was created to provide delivery service within the last 3 km for takeaway and goods. Gu Zhenjiang said that selection of scenarios improved delivery distribution efficiency effectively and avoided the time-consuming of door-to-door delivery. Yogel delivery vehicles had been applied in the business parks.

Regarding shipment and current development objective, Excelland Technology has more than 10,000 indoor scenarios and plans to apply over 1,000 products in the outdoor scenarios within one year. In terms of growth, Excelland AI gets 9-10 times increment on a YOY basis in shipment and revenue in the first half of 2021.

"Excelland Technology will expand its R&D ability, capacity and integrated sales and service by this round financing, increase application in multi-scenarios, and provide reliable and steady integrated robot solutions for customers worldwide." Gu Zhenjiang Said.

Voices from investors:

YF Fund commented, "As a leading enterprise, Excelland Technology has implemented projects in such scenarios as KTV, hotel and campus in virtue of low-speed automatic delivery. We believe that we will surely create extraordinary commercial and strategic values."

ChengDing Fund commented, "We expect Excelland Technology's future development. Service robots will enjoy a promising market prospect under labor shortage and human cost increases. The epidemic accelerates service robot commercialization, and touch-free service has become the standard configuration of many business scenarios. But the epidemic is just a catalyst. More underlying reasons for the fast development of commercial service robot lies in full technical finalization and scenario commercialization ability. It is also a key reason for our confidence in Excelland Technology. We highly recognize their competitive advantages and excellent management team and we will establish extensive strategic cooperation with them in multiple scenarios to make it become an international leading commercial service robot company."

XinShang Capital said, "Excelland Technology focuses on the service robot industry and develops products that can reduce people's repetitive labor and improve user's experience by technology. In the meantime, Excelland AI will bring an open space for imagination to people's high-quality life through constantly optimizing technical schemes and expanding product application fields and scenarios."

Wang De Rong, the partner of 58 Industry Fund, said, "Application of unmanned driving and robot technologies could reach more than RMB 100 billion value and people are replaced by robot has already become the main trajectory. Excelleand Technology has testified its ability of indoor delivery in multiple scenarios and it also shows huge imagination in outdoor delivery. That's also why we're confident in Excelland Technology company. Meanwhile, we also believe that the company has a strong strategic collaboration with 58 in outdoor distribution and look forward to more cooperation with the company in the terminal distribution field in the future."