Suzhou-based garden robot maker Suzhou Lymow Technology Co., Ltd. (来牟科技) secured a 10 million angel round financing at the beginning of the year.
Founded in 2022, Lymow Technology is a startup company focusing on intelligent garden robots, mainly for the European and American markets. Its founder, Gao Wangshu(高望书), graduated from the Hong Kong University of Science and Technology and was the co-founder of Narwal(云鲸智能). The core members of the team have many years of work experience, with market-product-R&D-volume production-channel full-stack capabilities, with the European and American market ten million robotics product delivery and polishing experience, and have a deep technical accumulation in the field of robotics, AI and automatic driving.
Most European and American users pay attention to their lawns, and lawn mowing equipment is a necessity for many families. Lymow Technology has also focused on the design and manufacture of lawn mowing robots, and thus launched a related product, the lawn mowing robot Lymow Rhino. Lymow Technology chose the fusion of vision + RTK + inertial guidance as the navigation solution for Lymow Rhino, in addition to the self-developed blade mowing, in order to ensure the safety of the premise of the robot's mowing efficiency to 300W, which is several times more than most of the mowing robots on the market.
The global garden robot market size was estimated at USD 2.3 billion in 2022 and is expected to hit around USD 7 billion by 2033, poised to grow at a CAGR of 10.5% between 2023 and 2033. Pandemic gardening boom and advanced features and flexibility of robots are driving the growth of garden robot market.
In terms of market selection, Lymow Technology's first stop is North America. The lawn area of North American users is mostly between 200 and 8000 square meters. In order to cater to the aesthetic and practical needs of the target audience, Lymow Technology's lawn mowing robot has straight lines and a black appearance, with an aesthetic style that tends to be rugged and off-road. The robot adopts a crawler structure to minimize grass entrapment and enhance the robot's ability to grip the ground, so as to realize the function of climbing slopes and overcoming obstacles.
Facing a broad market prospect, the yard robotics track has been flooded with many players. Domestically, there are Fairland(菲尔兰德), Hanyang Tech(汉阳科技), Heisenberg(河森堡), etc. Overseas, there are Franklin Robotics, Harvest Automation, AL-KO and so on.
The investor of this round of financing is NBT Capital（耐必信）, and this round of financing will be used for product mass production preparation, market launch and team expansion. Its previous seed round investor was XBOTPARK Fund, founded by Prof. Li Zexiang(李泽湘). Lymow Technology has entered the trial production preparation stage, and will have a small-scale trial production early next year to meet the overseas grass cutting season.