In a year of stringent Covid controls, some Chinese startups that survived found growth online and overseas.
The startup avoided significant impact from China's Covid lockdowns since it could deliver its products virtually, Jiang said. He added that the greater use of digital tools — from ride-hailing apps to videoconferencing — means more companies' core assets are digital, creating more demand for cybersecurity protection.
The company sells cooker hoods and induction hobs for use at home, with list prices of a few hundred euros each — or a few hundred U.S. dollars, for the U.S. market. With no growth to speak of in China for 2022, Keenon Robotics saw revenue climb by more than 40% thanks to its overseas business, COO Wan Bin said.
Keenon has reached unicorn status, with a valuation of more than $1 billion. In Sept. 2021, SoftBank's Vision Fund 2 led a $200 million Series D investment round, and SoftBank Robotics announced a partnership with Keenon. The company primarily sells to U.S. consumers via its website — which lists $2,000 marble dining tables, $1,500 wooden makeup vanity table sets and $500 for a pair of velvet adjustable bar stools. The company has a staff of 100 people in the southern Chinese province of Guangdong and Los Angeles, Lin said.
One system manages warehouses and divides the manufacturing process into parts, so that steps such as painting and gluing can be done at the same time, Lin said. The other connects shipments with trucks that can deliver products in the U.S., he said.Headquarters: ShanghaiJust over a year earlier, engineers who worked on the airplane launched their own startup, Volant Aerotech, to build what's essentially an electric-powered helicopter.
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