Funding round
UBTECH Series C
UBTECH, which works in robot manufacturing and distribution in Shenzhen, raised $820M in a Series C round announced on 3 May 2018, led by Tencent, at a $5.00B post-money valuation. 18 firms took part, 1 of them already investors.
$820M
Amount raised
$5.00B
Post-money valuation
$4.18B pre-money
18
Investors
1 lead
16%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced UBTECH at $5.00B after the new money. The $820M bought investors about 16% of the company. It is UBTECH's first venture round on record, 6 years after it was founded in 2012. No later venture round is on record for UBTECH.
UBTECH's funding rounds
This is the only venture round on record for UBTECH.
- Series C this round 3 May 2018, led by Tencent $820M$5.00B post-money
- Debt not a venture round 1 Sep 2025, led by Infini Capital $1.00B
Investors
Who put money in
Tencent led the round with 17 other firms. Tencent had backed UBTECH before.
Lead investor
- Tencent existing investor
Also in the round
- Industrial and Commercial Bank of China new investor
- Haier new investor
- Minsheng Securities new investor
- backs 52 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- Easyhome Furnishings new investor
- Chia Tai Group new investor
- China Minsheng Bank new investor
- China Film and TV Capital new investor
- CGN new investor
- Sichuan Railway Investment Group new investor
- backs 8 venture-backed companies new investor
- new investor
- Shenzhen JinFuZi Network Technology new investor
- CreditEase new investor
- Juran Zhijia new investor
- ICBC
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
6 Series C rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $27M, and this round was 31 times the median. The closest in time, other companies' Series C rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 17 May 2018 | $25M | not disclosed | Continental |
| Industrial Machinery & Supplies | 23 Apr 2018 | $30M | not disclosed | Tyche Partners |
| Industrial Machinery & Supplies | 4 Oct 2018 | $8.0M | not disclosed | Material Impact and Michigan Capital Advisors |
| Industrial Machinery & Supplies | 1 Nov 2017 | $30M | not disclosed | next47 |
| Moglix Industrial Machinery & Supplies | 18 Dec 2018 | $23M | not disclosed | Accel and Jungle Ventures |
| Sunfire Industrial Machinery & Supplies | 8 Jan 2019 | $29M | not disclosed | Paul Wurth S.A. |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did UBTECH raise in its Series C round?
UBTECH raised $820M in its Series C round, announced in May 2018.
Who led UBTECH's Series C round?
Tencent led it, with Industrial and Commercial Bank of China, Haier, Minsheng Securities, Titanium Ventures and CDH Investments and 12 more.
What was UBTECH's valuation at the Series C round?
$5.00B post-money ($4.18B pre-money).
How does it compare with other Series C rounds in Industrial Machinery & Supplies?
6 Series C rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $27M, and this round was 31 times the median.