Shanghai Bangbang Robotics Co. Ltd (Bangbang Robotics), a world leading service provider of electric wheelchairs and mobility scooters, has been named no.1 in Asia in The Information‘s Top 50 (TI50) Most Promising Startups 2022.
As one of the most authoritative technology media publications in the Silicon Valley, The Information has tens of thousands of paid subscribers in 84 countries and regions around the world. The TI50 is an annual list that chooses 50 companies from around the world that have the potential to be the most valuable businesses in their respective fields.
BangBang Robotics has a current company valuation of approximately $83 million and is on track to triple its revenue in 2022. With its pioneering development of artificial intelligence (AI) enabled electric wheelchairs, the company has been included in TI50 2022 after analysis of its current revenue, business model, and growth prospects.
Here in some more detail is why Bangbang Robotics was included in TI50 2022:
1. Strong product competitiveness:
The commercial competitiveness of Bangbang Robotics stems from the advantages of the company’s self-developed software and hardware.
The Bangbang Robotics value chain incorporates R&D design, production and sales, and lays a solid foundation for the company to be competitive in the domestic and international market.
2. Wide market reach:
BangBang Robotics sells its electric wheelchairs not only in China, but also in more than 20 other countries in Europe, the Middle East and Asia. About 35% of sales come from overseas markets.
At the same time, China’s population aged 65 and over accounted for about 12% of China’s total population of 1.4 billion in 2021, up from 8% a decade ago. In the future, this demographic is expected to grow further.
With the strong market demand, as a leading company in the industry, Bangbang Robotics has huge potential to serve more users in the coming years.
Bangbang Robotics founded in 2016, is the world’s leading service provider and manufacturer of rehabilitation assistive devices and has won a flurry of awards for its innovation, including the Red Dot Award for its standing-up wheelchair XZ-Droid (This product series is not available for Germany market), and, the iF Design Award from Germany for its power wheelchair Robooter.