Qixuan Technology Completes Series A++ Financing, Valuation at US$100 Million

On December 20 , Qixuan Technology, a new welding robot provider, announced the completion of a multi-million-yuan A ++ round of financing, led by GRC Fuhua Capital. After this round of financing, the company is valued at 100 million U.S. dollars. It is understood that the funds raised in this round will be used to increase R&D investment, expand new channels for welding power supplies and industrial robots, and enhance user scale and product experience.

Data from Gaogong Robot Industry Research Institute ( GGII ) show that sales of arc welding robots in the Chinese market in 2021 reached 41,600 units, a year-on-year increase of 29.60% . This is the first time that sales of arc welding robots have exceeded 40,000 units . Benefiting from the investment in new energy vehicles, 2021 , and foreign brands will still occupy an absolute dominant position. It is estimated that by 2025 , the overall sales of welding robots in the Chinese market may be close to 100,000 units.

In the past three years, in the field of arc welding, which is the main focus of domestic welding robot manufacturers, the domestic share has shown a continuous upward trend. After 2018 , arc welding robots have continued to grow year by year, especially in 2021 , when the domestic substitution effect has gradually emerged. In 2021 , the domestic share increased from 29.42% in 2020 to 36.42 % . In the first half of this year, affected by the macro-economy, the growth rate of the industrial robot market declined slightly, and welding robots also began to come under pressure. The market rebounded slightly in Q3 . GGII expects that the share of domestic arc welding robots in 2022 is expected to increase to 38.5% .

Qixuan Technology was founded in Shenzhen in September 2017. Aiming at the pain points of a large number of small and medium-sized processing enterprises with limited resources, no system integration capabilities, and a shortage of welders, Qixuan launched the first Niu welding robot series products for small and medium-sized enterprises in 2021. This series of products eliminates the need for integrators, is ready to use out of the box, does not require programming, and can be operated in a fool-proof manner with a joystick. Its performance has grown three times in the past 12 months , and it will begin to enter the overseas market in the second half of 2022 .

In addition, welding robots also need more innovative technologies, whether it is vision, software, process packages, or sensors, which have brought a relatively large qualitative leap in welding intelligence. For example, 3D vision has accelerated its penetration from simple applications such as handling and sorting to strong process fields such as welding and cutting.

Many innovative technologies and products are forming a new ecosystem with welding robots. Under the general trend of intelligent and digital welding, manufacturers who can "weld the future" must be manufacturers who embrace new technologies. From this perspective, Chinese welding robots still have a long way to go.

Wang Wenjie, founder of Qixuan Technology , said: "Qixuan Technology has always focused on the development of motion control software, robot motion control systems and platforms, and is committed to providing customers with affordable and easy-to-use industrial robots. In the future, we will continue to iterate and enrich our product matrix, accelerate the expansion of upgrade channels, and use technology to advance the progress of global industrial automation."