According to recent filings with Singapore's regulator, LionsBot International, a cleaning robot manufacturer, has raised approximately $17 million in a Series A funding round. This development comes in a recent report from Nikkei Asia.
The startup's filings with the Accounting and Corporate Regulatory Authority (ACRA) tell us that the latest funding round was led by TransLink Capital, Supersteam Asia Pacific, Freny Firoze Irani, and LionsBot's founders.
TransLink Capital, the lead investor, is a venture capital firm based in the United States that assists entrepreneurs in expanding into Asia. According to the filings, it contributed $7 million to the round.
LionsBot's Cleaning Robots
LionsBot, founded in 2018, specializes in developing cleaning robots for commercial applications. LeoBot, the company's flagship product, is a highly advanced cleaning robot capable of vacuuming and scrubbing large public areas with minimal human oversight.
The interactive robot can be programmed to carry out various cleaning tasks, making it an invaluable asset to any commercial cleaning operation.
One thing that makes LeoBot stand out is the technology that helps it avoid obstacles so it can clean around them.
Furthermore, the robot has auto-docking capabilities, allowing it to charge itself and return to its charging station when the battery runs low. The robot also has batteries that use AI to ensure they last as long as possible. It also has different cleaning modes that can be changed to fit different cleaning situations.
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The R3 Scrub is the latest addition to LionsBot's floor-cleaning robots. This innovative robot, designed for use in both homes and offices, is packed with features that make it an efficient and convenient cleaning solution.
The R3 Scrub's smart navigation technology is one of its most notable features. This robot, equipped with sensors that allow it to navigate around obstacles and tight spaces, can clean thoroughly and effectively, leaving no spot untouched.
A Growing Market
According to a recent Statista market report, the global robotic vacuum cleaner market is expected to grow significantly over the next few years. Based on the report, which spans 2015 to 2025, the market was worth 1.84 billion US dollars in 2018 and is expected to reach 4.98 billion US dollars by 2025.
Meanwhile, Nikkei Asia tells us that the Singapore cleaning robot market is also rising. The International Federation of Robotics released a report in 2021 that there are 605 robots for every 10,000 workers in the manufacturing industry. This is the second-highest number in the world after South Korea, which has 932 robots for every 10,000 workers.
Increasing consumer demand for robotic vacuum cleaners is driving market growth. These devices can now navigate complex environments like multi-level homes. They also have convenient features like scheduling, mapping, and voice control.
LionsBot's recent funding round demonstrates the growing demand for cleaning robots and their role in the future of commercial cleaning operations.
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