Narwal Robotics, which produces robotic vacuum cleaners and mops for households, has secured $100 million in its latest funding round co-led by Tencent’s investment arm.
Beijing Robotics Industry Development Industry Fund, a robotics-focused investment fund managed by state-owned Beijing Jingguorui Equity Investment Fund Management, and Shougang Fund, co-led the round, according to a company release on Monday.
China-based early-stage venture capital (VC) firm Future Capital, one of Narwal’s angel investors, also re-upped in the round. Narwal will use the proceeds to enhance R&D efforts to embody intelligence capabilities in robot cleaner products.
The Shenzhen-headquartered firm said it has hit the road to fundraise for its pre-IPO round, too, per the release.
The robot cleaners maker hit a 130 % revenue year-over-year growth in 2024. Going forward, the firm expects that its overseas markets spanning across regions like North America and Europe will bring 3-4x growth in 2025. The firm is looking to expand its geographical footprint from 50 to 70 countries this year.
With the US being one of its markets, Narwal’s spokesperson told a local news outlet that the recent, unprecedented, expansive tariffs that the US rolled out against its major trading partners, including China, will not have a major impact on the company.
Founded in 2016, Narwal Robotics previously secured “several hundreds of millions” from two state capital investors including Shenzhen state capital investment platform and Wuxi state capital investment platform in December 2024.
