Keenon Robotics Funding, Investors & Competitors

Keenon Robotics has raised $229M across 2 funding rounds, most recently a $200M Series D in September 2021.

Last Keenon Robotics funding round

$200M

Series D · Sep 2021

Cumulative funding Keenon Robotics raised

$229M

across 2 funding rounds

Key investors in Keenon Robotics

  • SoftBank Group
  • Source Code Capital
  • Yunqi Partners
  • Walden International
  • Prosperity7 Ventures
  • iVision Ventures
  • CICC Alpha
  • Shanghai International Group (SIG)

Keenon Robotics Overview

About Keenon Robotics

Keenon Robotics is a Beijing-headquartered developer of commercial service robots deployed in hotels, restaurants, and healthcare facilities globally. Its product line includes delivery robots like T5 and Quattro, disinfection models, and cleaning bots equipped with SLAM navigation and 5G connectivity. The company has installed over 30,000 units in China, Japan, Europe, and the Middle East, partnering with chains such as KFC and Marriott.


Founded

2010

HQ

ChinaShanghai

Website

keenon.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Keenon Robotics Funding History

Keenon Robotics has raised a total of $229M across 2 funding rounds.

Keenon Robotics' first fundraising round was a $29M Series B in December 2019. The most recent completed round was a $200M Series D in September 2021.

Keenon Robotics funding rounds

Keenon Robotics funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2021Series DSoftBank Group (lead); Prosperity7 Ventures; CICC Alpha$200MKeenon Robotics, founded in 2010, is a China-based leader in service robotics, developing AI-powered delivery robots for industries including catering, hospitality, healthcare, entertainment, real estate, hotels, and hospitals. The company uses automation, AI, and machine learning to handle repetitive tasks like food delivery, with products deployed in contactless scenarios accelerated by COVID-19. Keenon operates in markets across China, the United States, Europe, South Korea, Singapore, Canada, the United Kingdom, France, Italy, and Japan, having shipped over 20,000 units worldwide by September 2021. On September 15, 2021, Keenon raised $200 million in its Series D funding round, led by SoftBank Vision Fund 2, with participation from CICC Alpha and Prosperity7 Ventures, a growth equity fund of Aramco Ventures. This was described as the largest funding round to date in the service robot sector in China, bringing total funding to approximately $244 million. China Renaissance served as the exclusive financial advisor. Previous rounds included a $15.3 million Series C led by SoftBank Ventures Asia in December 2020 and a $28.3 million Series B in March 2020 from Walden International, Source Code Capital, Shanghai S&T, iVision Ventures, and Yunqi Partners. The proceeds are allocated to advance in-house R&D for new efficient and cost-saving applications, expand into new markets, enhance supply chain development, scale robot functionalities across scenarios, and boost revenue growth. Investors highlighted Keenon's technological moat from early market entry, core tech, supply chain, channels, and services, positioning it to drive the smart autonomous delivery revolution and increase productivity globally. The service robot market in China was forecasted to reach RMB 30.3 billion in 2021 and RMB 60 billion by 2023, driven by visual-guided and accompanying robots, amid competition from rivals like PuduTech.
Dec 2019Series BSource Code Capital (lead); iVision Ventures; Walden International; Yunqi Partners; Shanghai International Group (SIG)$29MKeenon Robotics, established in 2010 and headquartered in Shanghai, develops commercial service robots including delivery robots (T1), guiding robots (G1, G2), and hotel robots (G3), with nine products serving catering, hospitality, and other sectors. The company maintains full ownership of its supply chain for cost-effective mass production and operates in over 400 cities in China plus international markets like the US, Canada, Europe, Japan, and South Korea. In February 2019, Keenon conducted a Pre-B funding round, described as adding up to a total investment of more than US$28 million when combined with prior rounds, involving investors including Yunqi Partners and iVision Ventures. In 2019, Keenon delivered more than 3,000 robots for food and beverage delivery and shopping guidance, generating revenue of around US$14 million, and targeted 10,000 robot sales in 2020. It provided solutions to over 1,000 companies. The company continued raising capital, completing a Series C in late 2020 with SoftBank Ventures Asia and Alibaba, and a Series D for $200 million in September 2021 led by Vision Fund.

Who has invested in Keenon Robotics?

8 investors have backed Keenon Robotics across its funding rounds, including SoftBank Group, Source Code Capital, Yunqi Partners, Walden International, Prosperity7 Ventures and iVision Ventures.

Lead investors include SoftBank Group and Source Code Capital.


Keenon Robotics Investors

Investors in Keenon Robotics by funding rounds participated
InvestorHQRoundsRoleFirst check
iVision VenturesChinaChina1ParticipantDec 2019
SoftBank GroupJapanTokyo1LeadSep 2021
Prosperity7 VenturesSaudi ArabiaDammam1ParticipantSep 2021
CICC AlphaChinaBeijing1ParticipantSep 2021
Walden InternationalUnited StatesSan Francisco, CA1ParticipantDec 2019
Yunqi PartnersChinaShanghai1ParticipantDec 2019

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Keenon Robotics Competitors

Keenon Robotics competitors include listed companies like UBtech Robotics and Infleqtion, and private ones like Figure, Skild AI, Shield AI and Saronic.

Public and private companies comparable to Keenon Robotics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
UBtech RoboticsChinaChinaPublicly listed$298M($108M)$5.1B9.5x
FigureUnited StatesSan Jose, CAPrivate--$39B-
Skild AIUnited StatesPittsburgh, PAPrivate$30M-$14B-
Shield AIUnited StatesSan Diego, CAPrivate$540M-$13B23.5x
SaronicUnited StatesAustin, TXPrivate$200M-$9.3B46.3x
InfleqtionUnited StatesUnited StatesPublicly listed$29M($52M)$3.1B64.5x

Keenon Robotics Public Comps

Keenon Robotics is still privately-owned, but its public comps include Tesla, Stryker, Unitree Robotics, Zebra, Aurora Innovation, Cognex, Aptiv, Mobileye, Symbotic and UBtech Robotics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tesla$95B$10B15.0x13.8x140.8x97.4x
Stryker$25B$6.3B4.7x4.5x18.8x15.6x
Unitree Robotics$253M$55M118.8x-548.5x-
Zebra$5.4B$853M3.6x3.2x22.6x13.8x
Aurora Innovation$3M($786M)3957.3x1040.1x(15.1x)(15.5x)
Cognex$994M$214M10.0x9.0x46.4x31.7x
Aptiv$20B$2.2B0.7x0.9x6.3x5.4x
Mobileye$1.9B$140M2.8x2.7x38.5x12.3x

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Common questions about Keenon Robotics

When was Keenon Robotics founded?Keenon Robotics was founded in 2010.
Where is Keenon Robotics headquartered?Keenon Robotics is headquartered in Shanghai, China.
Is Keenon Robotics publicly listed?No, Keenon Robotics is a private, VC-backed company.
How much funding has Keenon Robotics raised?Keenon Robotics has raised $229M across 2 funding rounds.
What was Keenon Robotics' last funding round?Keenon Robotics' last funding round was a $200M Series D in September 2021, led by SoftBank Group.
Who are Keenon Robotics' investors?Keenon Robotics' investors include iVision Ventures, SoftBank Group, Prosperity7 Ventures, CICC Alpha, Walden International, Yunqi Partners, Shanghai International Group (SIG) and Source Code Capital.
Which companies are comparable to Keenon Robotics?Companies comparable to Keenon Robotics include UBtech Robotics, Figure, Skild AI, Shield AI, Saronic and Infleqtion.

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