China-based sweeping robot manufacturer Gaussian Robotics raised RMB1.2bn ($188m) on Wednesday in a series C round co-led by internet and telecommunications group SoftBank’s Vision Fund 2.
Local services platform Meituan Dianping and financial services firm Far East Horizon (through its Grand Flight Investment unit) also took part in the round which was co-led by private equity firm CapitalToday and filled out by Jinyi Capital and Bluerun Ventures.
Founded in 2013, Gaussian produces smart automated vacuum cleaners and is present in more than 40 international markets. In addition to mainland China, the company has offices in Hong Kong, Singapore and the Netherlands.
Meituan Dianping and BlueRun Ventures had backed a $100m series B-plus round for the company in April this year led by property conglomerate Longfor Group and backed by internet group Tencent and China Securities.
Gaussian had previously secured $22m in another round described as a series B-plus, in September 2020. It was co-led by China Securities’ China Capital Management unit and China Everbright Group’s Broad Vision Funds and also featured BlueRun Ventures, Grand Flight Investment and Korea Investment Partners.
Grand Flight Investment had led a $15m series B round for Gaussian in early 2019 that included BlueRun Ventures, the latter having joined Seven Seas Partners to participate in a series A round in the eight-digit dollar range the year before.
