RELEASE: The Information names Shanghai Bangbang Robotics as one of the Top 50 Most Promising Startups 2022


RELEASE: The Information names Shanghai Bangbang Robotics as one of the Top 50 Most Promising Startups 2022

SHANGHAI, Nov. 17, 2022 /PRNewswire/ -- Shanghai Bangbang Robotics Co. Ltd (Bangbang Robotics), a world leader in electric wheelchair and mobility scooter services, has been named No. 1 in Asia by The Information link .

As one of Silicon Valley's most authoritative technology media publications, The Information has tens of thousands of paying subscribers in 84 countries and regions around the world. TI50 is an annual list of 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 revenue by 2022. With its pioneering development of artificial intelligence (AI) powered wheelchairs, the company has been named to the TI50 2022 after analyzing its current income, its business model and its growth prospects.

Here's why Bangbang Robotics has been included in TI50 2022 in more detail:

1. Strong product competitiveness:

Bangbang Robotics' business competitiveness derives from the advantages of the company's self-developed software and hardware.

Bangbang Robotics' value chain incorporates R&D design, production and sales, laying a solid foundation for the company to be competitive in the domestic and international markets.

2. Wide scope of the market:

BangBang Robotics sells its electric wheelchairs not only in China, but also in more than 20 countries in Europe, the Middle East, and Asia. About 35% of sales come from foreign markets.

At the same time, the Chinese population aged 65 and over will account for about 12% of China's total population of 1.4 billion by 2021, up from 8% a decade ago. Going forward, this demographic is expected to continue to grow.

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.

Founded in 2016, Bangbang Robotics is the world's leading rehabilitation assistive device and service provider and has won a host of awards for its innovation, including the Red Dot Award for its XZ-Droid stand-up wheelchair. (This series of products is not available for the German market), and the German iF Design Award for its Robooter electric wheelchair.

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