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Recently, Guangdong DataBeyond Technology Co., Ltd. (hereinafter referred to as "DataBeyond Technology") announced the completion of nearly $100M in series B funding, exclusively invested by Sequoia China. Taking the Series B funding as an opportunity, DataBeyond Technology completely strategize overseas channel development, to broaden the company's influence in the international market, further drive the company's globalization strategy. Simultaneously expedite the large-scale production of standardized products, further reducing costs, hasten the inclusive adoption of cutting-edge intelligent sorting technology.Previously, DataBeyond Technology received Series A funding from Fortune Capital, Pre-A funding from Matrix Partners China , and angel investment from China Growth Capital.
DataBeyond Technology, founded in 2018, is a high-tech company specializing in AI and optoelectronic integration-based intelligent sorting equipment. The company's products are primarily used in a wide range of waste sorting applications, including MRF (Material Recovery Facilities), MSW (Municipal Solid Waste), WEEE (Waste Electrical and Electronic Equipment), ASR (Automotive Shredder Residue), C&I (Commercial and Industrial Waste), C&D (Construction and Demolition Waste), WRS (Waste Paper Recycling), and TRS (Textile Recycling). DataBeyond Technology's solutions enable the precise sorting of waste materials, ultimately creating added value from waste resources.
After many years of development, DataBeyond Technology has now become a leader in China's intelligent waste sorting equipment industry. With outstanding product performance and a strong reputation among users, DataBeyond's intelligent sorting equipment boasts a commanding domestic market share and is also exported to various overseas regions, including Brazil, India, Saudi Arabia, Dubai, Japan, Malaysia, Nigeria, Europe, and the United States, etc.
In 2023, DataBeyond Technology has been achieving remarkable success with both domestic and international projects. These include the Hubei Weisuyuan's rPET Dark Factory Project (200,000 tons per year), Zhejiang Quzhou Tongheng rPET Dark Factory Project (100,000 tons per year), Zhejiang Hengxin rPET Dark Factory Project(100,000 tons per year), Jiangsu Suqian Xinruibang rPET Dark Factory Project(100,000 tons per year), Shaanxi Dongfang Baofa rPET Factory Project(60,000 tons per year), Ningxia Environmental Protection Group's rPET Project(50,000 tons per year), Malaysia Mixed Plastic Bottle Sorting Project (50,000 tons per year), Brazil rPET Bottle Sorting Project (30,000 tons per year), and a significant milestone with the signing of a global record-breaking order for optical sorting machines, totaling 100 units, with Hainan Dacheng Environmental Technology Co., Ltd.
The recycling industry is rapidly developing worldwide, but it still faces challenges such as low automation levels, non-standard facilities management, a lack of industry standardization, and a widespread aging workforce.DataBeyond Technology's intelligent sorting equipment is deployed globally, reducing 2 million tons of waste and several million tons of carbon emissions annually. It simultaneously it has increased the level of automation in recycling businesses, liberating tens of thousands of frontline sorting workers from harsh and hazardous environments. This benefits various sectors, including plastic waste, paper waste, and textile waste, and spans across dozens of countries and regions.
DataBeyond Technology firmly believes that superior product quality is the cornerstone for maintaining a competitive advantage in the business. Exceptional product quality encompasses stable equipment performance, outstanding sorting equipment capabilities, affordable equipment pricing for customers, and rapid return on investment.
For intelligent sorting equipment companies, blindly pursuing high-end technology to the extent that only a small portion of customers at the top of the pyramid can afford high-end intelligent sorting equipment, while neglecting the prices most waste recycling businesses can bear, this kind of product is not a 'quality product'. Similarly, if cost-cutting is achieved through shoddy manufacturing and imitation, with low prices as the sole lure for customers, while ignoring equipment stability and sorting equipment performance, ultimately leading customers into long-term difficulties and market elimination, such products are even less likely to be considered ‘quality products’.
DataBeyond Technology consistently adheres to the principle of producing "quality products." While ensuring product quality, we reduce costs through technological innovation and large-scale production. We then pass these cost savings on to our customers, assisting them in maintaining a competitive edge in the fierce market competition and navigate through industry cyclical changes.
Our vision and mission remain unwavering: to make intelligent sorting equipment affordable and of high quality for recycling businesses worldwide. We genuinely aim to help our customers not only "survive" but thrive in the intense market competition, leading to a more standardized and socially respected existence. Ultimately, we seek to drive the global recycling industry from disorder and pollution towards standardization and from labor-intensive practices to Industry 4.0, hastening the arrival of the intelligent era in the global recycling industry. This is the unwavering commitment and driving force that fuels every DataBeyond team member's tireless dedication.
DataBeyond Technology innovates in equipment performance by integrating AI, optoelectronics, and other technological fields. This includes the construction of a multi-label, multi-dimensional solid waste database and the independent development of deep algorithms, achieving superior sorting results. In terms of cost-effectiveness, one breakthrough from DataBeyond Technology is the self-developed high-spectral camera, introducing hyperspectral technology originally used in research, aerospace, and other fields into waste sorting scenarios. This not only achieves domestic substitution but also significantly reduces costs.
In 2023, DataBeyond Technology introduced new 6th generation AI optical sorter, with a PET feed rate surpassing 10 tons /hour, boasting an accuracy rate of up to 99.6%. The high-speed conveyor belt operates at an impressive speed of up to 4.2m/s and features an added belt anti-deviation function. Simultaneously, the company also introduced a more powerful AI hyperspectral optical sorter, capable of detecting over 260 spectral bands of objects, accurate identification of more than 260 material types, including PC, PVC, PP, PE, PO, PETG, composite materials, and more, to guarantee product purity.
DataBeyond Technology's founder and CEO, Monica Mo, stated: DataBeyond Technology has gathered a group of idealistic and dedicated high-end talents who possess both the technical prowess to contribute to the country's technological strength and a sense of social responsibility and passion to transform the global recycling ecosystem. In the future, DataBeyond will have a global perspective to interpret the development trends of the global circular economy industry in a more macroscopic and international way. We will contribute our intelligence to drive high-level, high-value recycling. Every DataBeyond team member will persist in being rooted in the front lines, delving into facilities, continuously deepening their understanding of the industry, transforming customer needs and pain points into excellent products. Ultimately, through the power of technology, they will lead the industry towards the direction of "automation, intelligence, digitization, and standardization. Whether you are an investor, supplier, customer, a complementary business in the supply chain,or just out of college, please join us in safeguarding our blue planet together.
Fuxin, Partner at Sequoia China, stated: Sequoia China firmly believes in the broad market opportunities of traditional industries such as advanced technology innovation in environmental protection. DataBeyond Technology aims at traditional recycling industry characterized by heavy manual labor, low quality, and inefficiency. With its forward-looking strategic vision and outstanding technical capabilities, it has created a transformative product matrix that empowers the industry chain profoundly. It has become an industry benchmark and achieved a solid advantage in scale and first-mover advantage. We look forward to DataBeyond Technology, led by a dedicated and driven team, deeply penetrating the domestic market, actively expanding overseas, and continuing to lead the global circular economy industry, truly showcasing the power of Chinese technology.
Wang Zanzhang, Partner at Fortune Capital, stated: After Fortune Capital investment in DataBeyond Technology, we have witnessed the company's remarkable growth, even in adverse economic conditions. The company has not only achieved significant success within our homeland, securing multiple industry-leading projects, but it has also demonstrated its formidable strength in international markets, propelled by the capabilities of China's manufacturing industry. This reaffirms Fortune Capital's initial assessment of the DataBeyond team.Fortune Capital has a longstanding focus on the field of smart manufacturing and holds a strong belief in the trend of intelligence within China's economic development system. Through intelligent equipment, we aim to liberate low-value-added labor and simultaneously upgrade both industries and talents. We have full confidence in every member of the DataBeyond team. We believe that, with their continuous research and development capabilities and their profound understanding of the industry and customers, they will undoubtedly empower more traditional scenarios to upgrade and showcase the new face of Chinese hard tech companies to the world in this new era.
Zuo Lingye, Partner at Matrix Partners China stated: With the grand strategy of carbon neutrality and the deep implementation phase of the circular economy, refined, efficient, and green recycling has become a universal demand. In this context, the DataBeyond team has demonstrated efficient strategic execution. They continuously iterate and upgrade products according to customer needs, expand production capacity, becoming a leading company in terms of industry shipments. Simultaneously, their overseas business has rapidly taken off, becoming another significant growth pole and gradually establishing a global brand effect. Matrix Partners have been systematically focusing on the circular economy and carbon neutrality for the long term. We believe that DataBeyond Technology's continuous product innovation and in-depth industry understanding can enable the company to maintain high-speed growth and make a continuous contribution to the high-quality development of the recycling industry and the ongoing achievement of carbon neutrality goals.
Chen Huan, Partner at China Growth Capital, stated: We were fortunate to have met DataBeyond Technology three years ago and have witnessed the company's growth. DataBeyond Technology seized the opportunities of the recycling industry and the dual-carbon era and sensitively addressed customer needs and pain points. In three years, we have seen the company continuously self-renew, seek excellence, optimize products, and lead the industry in terms of sales and reputation. We are also pleased to see DataBeyond Technology's firm commitment to internationalization and believe that DataBeyond Technology has the ability to become an international leader in intelligent sorting equipment, contributing to the achievement of global plastic reduction and carbon reduction goals.
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