Kuwa Robotics Completes US$250 Million Series C Financing

Coowa Robotics announced the completion of a $250 million Series C financing, jointly invested by industrial capital and some well-known financial investors. Previously, the company had received hundreds of millions of yuan in investment from SoftBank China, CCV, Huajin Capital, BAIC Capital and other institutions. Coowa Technology has formed large-scale autonomous driving city services in Hunan, Sichuan, Anhui and the Yangtze River Delta, and has been involved in vertical industries including unmanned sanitation, unmanned urban distribution and smart travel. In addition to maintaining a high market share in the autonomous driving sanitation and urban distribution markets, Coowa Robotics has also maintained a large-scale Robo-Taxi operating test fleet in Shanghai, and the number will exceed 100 in 2021. Coowa and the leading sanitation company Zoomlion Environment reached a strategic cooperation as early as 2018 and established a joint venture, planning to jointly invest 1 billion yuan to develop sanitation autonomous driving vehicles; currently, Coowa Robotics has landed smart sanitation projects in 17 prefecture-level cities in China, including Wuhu, Changsha, Chengdu and Bozhou. In 2021, KuWa plans to deploy 1,000 autonomous driving vehicles in 10 provinces and 20 cities across the country, further expanding the number of autonomous driving fleets in urban scenarios.