CHINA BRIEF | Underwater robot producer Sublue closes USD 17 million Series B+

Tianjin-headquartered robotic company Sublue has raised RMB 120 million (USD 17 million) from investors including SDIC Unity Capital and V Star Capital in its Series B+ round, 36Kr has learned.

Founded in 2013, Sublue has developed remotely operated underwater vehicles (ROV) and autonomous underwater vehicles (AUV) for ocean survey, underwater rescue, underwater pollution and explosives inspection, among other tasks. Its clients include the Maritime Safety Administration of China, China National Petroleum Corporation, and Power Construction Corporation of China.

The company has also rolled out a variety of products for water sports, including WhiteShark Mix scooters and Swii electronic kickboards.

The new funds will be used to develop new consumer products and update its current industrial vehicles. Sublue is expected to start its pre-IPO financing round shortly and prepare for a future public listing on the Star Market of the Shanghai Stock Exchange.

36Kr is KrASIA’s parent company.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.