Positec Group reaps $250M to additional develop autonomous mowers

Positec Group’s Landroid Imaginative and prescient AI robotic lawnmower, which it sells below its Worx model. | Supply: Worx

Positec Group Ltd. this week introduced that it secured $250 million in its first spherical of fairness financing. The supplier of robotic garden mowers mentioned it would spend the funding on product growth because it continues the worldwide growth of its consumer-facing manufacturers. 

“This funding acknowledges three a long time of technological innovation, operational excellence, and dedication to sustainable growth,” mentioned Don Gao, founder and CEO of Positec Group. “This funding will additional the continued analysis and growth of inexperienced vitality know-how and clever merchandise, fueling Positec’s market growth, whereas we search to speed up the electrification and transformation of the worldwide instrument market.”

Based in 1994, Positec Group is thought for its robotic lawnmowers and battery-powered out of doors gear for each shopper and business use. The Suzhou, China-based firm has North American headquarters in Charlotte, N.C. It has 15 abroad advertising subsidiaries, 4 R&D facilities, and 4 manufacturing bases worldwide.

Client, business mowers advance

Positec Group mentioned it has labored to maintain up with the newest know-how developments because the robotic mower class transitions from boundary wire to wire-free know-how.

The corporate launched a mowing robotic inside its Worx shopper division that makes use of machine imaginative and prescient and neural community algorithms to function with out predefined borders. These clear up the issue of cumbersome set up and permit the product for use instantly out of the field, it mentioned.

In 2024, the Worx Landroid Imaginative and prescient system was the best-selling robotic lawnmower in Europe, claimed Positec. It mentioned Worx has offered greater than 1 million items. 

Via its Kress business model, Positec launched RTKⁿ (real-time kinematic community) know-how in 2022. Relatively than requiring a number of on-site antennas like different RTK mowers, the corporate depends a world community of base station antennas. This enables any mower throughout the community’s protection space to function with no native antenna.

As well as, Positec mentioned its Kress model has launched a proprietary battery know-how that’s dependable sufficient to exchange gasoline for business landscapers. The battery affords as much as 8-minute cellular charging, greater than 3,000 cycles — 10x the trade norm — plus high-power discharge efficiency to match the facility of gasoline instruments.

The corporate mentioned this eliminates the previous ache factors related to battery-powered instruments within the business area.

Positec plans to spend money on the U.S. market

“Importantly, Positec is trying ahead to bringing excessive development and long-term worth returns to buyers and companions and making constructive contributions to our trade,” Gao added. “Personally, I’m tremendously proud and grateful to our international staff for his or her exhausting work and dedication that made this second a actuality.”

Frontier Funding led the funding spherical. Rockets Capital, CLSA Capital Companions, NRL Capital, and extra additionally participated within the spherical. 

“Whereas honoring Don Gao’s lifetime dedication to revolutionizing the trade, these funds additionally place the group for continued double-digit development within the U.S. retail market,” mentioned Michael Jones, president and CEO of Positec Americas. “[They will] additional strengthen our sources for penetration within the business area below the Kress model.”

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