- Companies
- Cyclone Robotics
Cyclone Robotics Funding, Investors & Competitors
Cyclone Robotics has raised $231M across 4 funding rounds, most recently a $40M Series C in August 2023.
Last Cyclone Robotics funding round
$40M
Series C · Aug 2023
Cumulative funding Cyclone Robotics raised
$231M
across 4 funding rounds
Key investors in Cyclone Robotics
DCM Ventures
Source Code Capital
Matrix Partners China
Goldman Sachs
Lenovo Capital and Incubator Group (LCIG)
CMC Capital Group
V Fund Management
ZWC Partners
About Cyclone Robotics
Cyclone Robotics is a Beijing-headquartered developer of AI-powered robotic process automation software known as digital employees. The company delivers proprietary products that automate business processes in finance, insurance, retail, healthcare, and technology sectors. Its solutions have been deployed at a major state-owned bank in China, a multinational home appliance firm, several listed tech companies, and a leading automotive retailer. Founded in 2017, Cyclone Robotics holds independent intellectual property rights for its core technologies and provides tailored industry solutions to enhance operational efficiency while cutting labor and system costs. The firm operates primarily in China with expanding presence across Asia.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Cyclone Robotics Funding History
Cyclone Robotics has raised a total of $231M across 4 funding rounds.
Cyclone Robotics' first fundraising round was a $1M Series A in June 2019. The most recent completed round was a $40M Series C in August 2023.
Cyclone Robotics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2023 | Series C | - | $40M | Cyclone Robotics, operating as Hongsheng Information Technology Co., Ltd., is a Shanghai-based provider of robotic process automation (RPA) software and solutions powered by AI, NLP, and hyperautomation technologies. The company develops proprietary products to automate business processes across platforms like Windows, Linux, Android, and cloud-native architectures, serving sectors including finance, banking, insurance, energy, government, manufacturing, and logistics. It has branch offices in 24 cities in China and abroad, including Singapore, and maintains strategic partnerships with business, technology, and channel partners. In July/August 2023, Cyclone Robotics secured approximately $40 million in an extended Series C (also called Series C-II or C+) funding round from undisclosed investors, following its $150 million Series C round in November 2021 led by CMC Capital and Goldman Sachs Asset Management, with co-investors like Lavender Hill Capital Partners, ZWC Partners, V Fund, DCM, Matrix Partners, and Source Code Capital. This brought the company's total funding to nearly $200 million, marking the largest financing scale in China's RPA industry. China Renaissance acted as the exclusive financial advisor. The proceeds from the 2023 extended round are designated for commercializing AI-generated automation processes, R&D on enterprise-level AIGA products, industry resource integration, market expansion, enhancing hyperautomation capabilities, expanding customer coverage, global partnerships, and improving partnership programs with training and services. Earlier rounds include a Series B of nearly $40 million led by Matrix Partners China and a Series A of over $10 million from DCM and Source Code Capital. Cyclone Robotics positions itself as a leader in China's RPA and hyperautomation market, emphasizing its vision of 'Automation Everywhere and Anytime' to drive digital transformation. The company has experienced rapid business growth, serving hundreds of customers, and continues to invest in product development and international expansion. |
| Nov 2021 | Series C | CMC Capital Group (lead); Goldman Sachs (lead); Matrix Partners China; ZWC Partners; Lavender Hill Capital Partners; DCM Ventures; V Fund Management; Source Code Capital | $150M | Cyclone Robotics, a Shanghai-based leading robotic process automation (RPA) provider and hyper-automation solution company, completed a $150 million Series C financing round in November 2021. The round was led by CMC Capital Partners and Goldman Sachs Asset Management, with participation from Lavender Hill Capital Partners, ZWC Partners, V Fund, DCM, Matrix Partners China, and Source Code Capital. According to investors, this was the largest individual financing round in China's RPA industry at that time. The company's products span the full automation lifecycle from discovery and design to management and engagement, running across platforms including Windows, Linux, and Android, with cloud-native architecture for on-premises and public cloud deployment. Cyclone Robotics reported an annual growth rate of 400% since 2019 and had assembled a customer base of nearly 1,000 clients across China, APAC, Europe, and the Middle East, including notable accounts such as Volvo, Bank of China, Haier, and the Agricultural Bank of China. The company was supported by over 500 employees across offices in China, Silicon Valley, Singapore, and London. At the time of the funding announcement, Cyclone Robotics was the only RPA provider in China to be included in both Gartner and Forrester authoritative reports, and was subsequently recognized as a Large RPA Solution Provider in Forrester's Now Tech report for Q4 2021 based on RPA revenue. The capital raise was intended to strengthen hyperautomation capabilities and products, expand customer coverage and global partnerships, accelerate product development, and scale the partnership enablement program with inclusive training resources and fast-response support. |
| Sep 2020 | Series B | Renzhi Capital; Lenovo Capital and Incubator Group (LCIG); DCM Ventures; Source Code Capital | $40M | Cyclone Robotics is a Shanghai-based robotic process automation (RPA) software and solutions provider founded in 2015. The company develops AI-powered RPA platforms designed to automate customers' specific business processes and serves hundreds of customers across industries including finance, banking, insurance, energy, manufacturing, retail, logistics, and public security. Cyclone maintains branch offices in 24 major cities across China and Singapore, with strategic partnerships established with major technology firms such as Alibaba, Microsoft, and IBM. In September 2020, Cyclone completed a Series B financing round raising approximately $40 million. The round was led by Matrix Partners China with DCM as a major co-investor, alongside co-investors including Lenovo Capital and Incubator Group (LCIG), Source Code Capital, and Renzhi Capital (R-Z Capital). The funding was intended to accelerate product development, expand the RPA platform capabilities, and support market expansion while maintaining Cyclone's leading position in China's RPA market. The company had previously raised over $10 million in Series A financing in 2019 from DCM and Source Code Capital. Post-money valuation for this round was not publicly disclosed. |
| Jun 2019 | Series A | DCM Ventures (lead); Source Code Capital (lead) | $1M | - |
Who has invested in Cyclone Robotics?
10 investors have backed Cyclone Robotics across its funding rounds, including DCM Ventures, Source Code Capital, Matrix Partners China, Goldman Sachs, Lenovo Capital and Incubator Group (LCIG) and CMC Capital Group.
Lead investors include CMC Capital Group, Goldman Sachs, DCM Ventures and Source Code Capital.
Cyclone Robotics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2019 | ||
| 3 | Lead | Jun 2019 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Participant | Sep 2020 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Participant | Sep 2020 | ||
| 1 | Lead | Nov 2021 | ||
| 1 | Participant | Nov 2021 | ||
This data is available for Pro users. Sign up to see all 10 Cyclone Robotics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCyclone Robotics Competitors
Cyclone Robotics competitors include listed companies like Snowflake and Z.ai, and private ones like Anthropic, OpenAI, DeepSeek and Cognition.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x | ||
| Private | - | - | $50B | - | ||
| Private | $900M | - | $48B | 53.3x | ||
| Publicly listed | $108M | ($658M) | $46B | 65.9x |
Cyclone Robotics Public Comps
Cyclone Robotics is still privately-owned, but its public comps include Palantir, Snowflake, Z.ai, IonQ, MiniMax Group, Presight AI, Affle 3i, Ncino, Haizhi and C3.ai.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $108M | ($658M) | 422.9x | 65.9x | (69.4x) | (73.0x) | |||
| $130M | ($531M) | 109.9x | 40.3x | (26.9x) | (39.1x) | |||
| $79M | ($1.9B) | 131.8x | - | (5.5x) | - | |||
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
This data is available for Pro users. Sign up to see all Cyclone Robotics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cyclone Robotics
| When was Cyclone Robotics founded? | Cyclone Robotics was founded in 2015. |
| Where is Cyclone Robotics headquartered? | Cyclone Robotics is headquartered in Shanghai, China. |
| Is Cyclone Robotics publicly listed? | No, Cyclone Robotics is a private, VC-backed company. |
| How much funding has Cyclone Robotics raised? | Cyclone Robotics has raised $231M across 4 funding rounds. |
| What was Cyclone Robotics' last funding round? | Cyclone Robotics' last funding round was a $40M Series C in August 2023. |
| Who are Cyclone Robotics' investors? | Cyclone Robotics' investors include DCM Ventures, Source Code Capital, Matrix Partners China, Renzhi Capital, ZWC Partners, Lenovo Capital and Incubator Group (LCIG), Goldman Sachs, Lavender Hill Capital Partners, CMC Capital Group and V Fund Management. |
| Which companies are comparable to Cyclone Robotics? | Companies comparable to Cyclone Robotics include Anthropic, OpenAI, Snowflake, DeepSeek, Cognition and Z.ai. |
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