Source Code Capital portfolio company Cloud Whale announced the completion of its Series C funding round, with existing investor Source Code Capital — which led its Series B — increasing its stake.
Developed the world's first robot that "washes its own mop cloths" — the Narwal J1.
Recently, Cloud Whale announced the completion of its Series C financing, following its Series B round in April. This round was led by HSG, with Hillhouse, ByteDance, and Source Code Capital participating, and Scheme Capital continuing to serve as the exclusive financial advisor. Source Code Capital, which led the Series B round, continued to increase its investment in this round.
Sweep-and-Mop Integration Becomes the Trend in Cleaning Robots; "Cloud Whale" Emerges as a Standout
Founded in 2016, Cloud Whale is dedicated to developing home service robots with proprietary technology. Its historical investors include Zexiang Li's Clear Water Bay Startup Fund, Future Capital, Dami Ventures, and Yingfeng Capital. In April 2020, it successively completed two rounds of financing totaling nearly 100 million RMB — a Series A+ led by ByteDance and a Series B led by Source Code Capital.
Currently, most smart cleaning robots on the market only handle "sweeping" without addressing "mopping," resulting in severe product homogenization. Cloud Whale took a different approach, targeting the pain point of traditional cleaning robots requiring manual mop washing. It developed the world's first robot that "can wash its own mops" — the Narwal, which exploded onto the market upon launch. It went viral on Weibo, Douyin, and major livestreaming platforms, becoming a sought-after smart home consumer product. Less than six months after the "Narwal" launch, Cloud Whale has grown rapidly. During the recent Tmall 618 shopping festival, it sold out 13,000 units in just 30 seconds, earning widespread consumer praise and acclaim. It has also won numerous international awards including the Edison Award Gold Medal, Red Dot Award, CES Innovation Award, and German Innovation Award.
Heavy Investment in Technology, Product, and Talent — Cloud Whale Is Committed to Bringing Robots Into Every Household
As a technology-driven robotics innovation company, Cloud Whale spans multiple fields including innovative structural design, intelligent perception, path planning, and big data applications. It has already achieved breakthroughs in several directions and has accumulated over 100 technology patents. Going forward, Cloud Whale will continue to increase R&D investment across all areas, insisting on putting technology and product first, creating an elegant and premium lifestyle experience for users, and treating product, technology, talent, and brand as the company's long-term core competitive advantages.
Narwal Fully Automatic Smart Mopping Robot — Complete Workflow
Cloud Whale's headquarters is located in Songshan Lake, Dongguan, with product R&D and production centers, and a marketing center in Shenzhen, giving it full-chain capabilities in R&D, production, and sales. Following the Series B financing, Cloud Whale is actively building its product R&D headquarters in Shenzhen, expected to officially relocate and commence operations in July this year. Cloud Whale is composed of young people who adhere to first principles and harbor innovative ideals. Every Cloud Whale team member possesses strong ownership mentality, striving to continuously innovate and reach top-tier levels in their respective fields. We look forward to and welcome more outstanding talent to join the Cloud Whale family, and together enjoy the joy of creating innovative high-tech products.
Emerging Colored Contact Lens Brand "MOODY" Completes 60 Million RMB Angel + Series A Financing; Source Code Capital Participates in Series A
Source Code Capital Portfolio Company "Kaishan" Announces Completion of 100 Million RMB Series B Financing; Existing Shareholder Source Code Capital Continues to Increase Investment
Designer Toy Platform "Suplay" Announces Completion of Several Million USD Pre-Series A Financing; Source Code Capital Makes Exclusive Investment
Source Code Capital Portfolio Company "YiCan" Announces Completion of Several Million USD Pre-Series A Financing; Existing Shareholder Source Code Capital Continues to Increase Investment
Source Code Capital Portfolio Company "WANGBAOBAO" Announces Completion of Nearly 100 Million RMB Series B Financing; Existing Shareholder Source Code Capital Continues to Increase Investment
For more Source Code Capital portfolio companies, click "Read Original" to view
