Positec Group’s Landroid Vision AI robotic lawnmower, which it sells under its Worx brand. | Source: Worx
Positec Group Ltd. this week announced that it secured $250 million in its first round of equity financing. The provider of robotic lawn mowers said it will spend the investment on product development as it continues the global expansion of its consumer-facing brands.
“This investment recognizes three decades of technological innovation, operational excellence, and commitment to sustainable development,” said Don Gao, founder and CEO of Positec Group. “This funding will further the ongoing research and development of green energy technology and intelligent products, fueling Positec’s market expansion, while we seek to accelerate the electrification and transformation of the global tool market.”
Founded in 1994, Positec Group is known for its robotic lawnmowers and battery-powered outdoor equipment for both consumer and commercial use. The Suzhou, China-based company has North American headquarters in Charlotte, N.C. It has 15 overseas marketing subsidiaries, four R&D centers, and four manufacturing bases worldwide.
Consumer, commercial mowers advance
Positec Group said it has worked to keep up with the latest technology trends as the robotic mower category transitions from boundary wire to wire-free technology.
The company released a mowing robot within its Worx consumer division that uses machine vision and neural network algorithms to operate without predefined borders. These solve the problem of cumbersome installation and allow the product to be used immediately out of the box, it said.
In 2024, the Worx Landroid Vision system was the best-selling robotic lawnmower in Europe, claimed Positec. It said Worx has sold more than 1 million units.
Through its Kress commercial brand, Positec introduced RTKn (real-time kinematic network) technology in 2022. Rather than requiring multiple on-site antennas like other RTK mowers, the company relies a global network of base station antennas. This allows any mower within the network’s coverage area to operate without a local antenna.
In addition, Positec said its Kress brand has introduced a proprietary battery technology that is reliable enough to replace gas for commercial landscapers. The battery affords up to 8-minute mobile charging, more than 3,000 cycles — 10x the industry norm — plus high-power discharge performance to match the power of gas tools.
The company said this eliminates the former pain points associated with battery-powered tools in the commercial space.
Positec plans to invest in the U.S. market
“Importantly, Positec is looking forward to bringing high growth and long-term value returns to investors and partners and making positive contributions to our industry,” Gao added. “Personally, I’m tremendously proud and grateful to our global team for their hard work and dedication that made this moment a reality.”
Frontier Investment led the funding round. Rockets Capital, CLSA Capital Partners, NRL Capital, and more also participated in the round.
“While honoring Don Gao’s lifetime commitment to revolutionizing the industry, these funds also position the organization for continued double-digit growth in the U.S. retail market,” said Michael Jones, president and CEO of Positec Americas. “[They will] further strengthen our resources for penetration in the commercial space under the Kress brand.”
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