Mova has raised an eight-figure RMB sum in an angel funding round to expand its R&D capacity, strengthen its innovation pipeline, and accelerate the development of its upstream and downstream ecosystem. The financing will also support the company’s broader industrial strategy. Investors in this round were not disclosed.
Founded in January, Mova develops, manufactures, and sells power tools. It operates R&D centers and offices in Suzhou, Dongguan, and Nanjing. The core team is made up of graduates from leading Chinese and international engineering universities such as Harbin Institute of Technology, Jilin University, Tongji University, and Southeast University. Many members previously worked at established power tool companies, contributing expertise in technology development, commercialization, and industry applications.
Power tools have gone through more than a century of evolution, from electrification to cordless adoption and lithium-ion integration. Recent improvements in battery density and cost have accelerated the transition to cordless devices. Compact design and ease of use are now major selling points, driving steady growth in the market.
According to Grand View Research, the global power tools market was valued at USD 32.9 billion in 2024 and is projected to reach USD 54.4 billion by 2030, growing at a compound annual growth rate of 9.4% between 2025–2030.
The market is divided into two main categories. Consumer power tools, led by brands like Ryobi, Black+Decker, and Bosch, are used for household repairs and small renovation projects. New entrants such as Hoto and Fantikk have already surpassed USD 100 million in annual sales. Professional and industrial users, including those in construction, energy, railways, mining, shipbuilding, and advanced manufacturing, form the other segment.
The professional tools market is currently dominated by Milwaukee, Dewalt, Bosch, Hilti, and Makita. While these companies maintain strong positions, their pace of innovation has slowed. Some challenges remain unresolved, such as performance issues in low-temperature outdoor environments where batteries in high-torque impact wrenches often underperform, reducing torque and endurance.
Mova plans to build a full range of tools across both professional and consumer segments. On the professional side, it is focusing on standardized tools designed for cross-scenario applications, emphasizing high performance and intelligent features. Its entry point is fastening tools, with plans to expand into additional categories.
“Our professional users are highly confident in their skills and often dislike oversimplified ‘foolproof’ designs,” a Mova executive told 36Kr. “When we talk about intelligence, it’s not about reducing the skill threshold. It’s about using smart algorithms to improve tool efficiency and silently empower skilled workers. The professionals remain in control.”
Mova’s ecosystem draws on upstream expertise in motor engineering, electromagnetic simulation, and design to develop high power-density motors in-house. Combined with proprietary control algorithms, these enable tools to adapt to varied scenarios while improving safety and usability.
On the consumer side, the company is targeting the growing DIY trend among younger buyers. Its approach emphasizes industrial design and CMF (color, materials, and finish), borrowing from consumer electronics aesthetics to produce visually distinctive tools. Smart algorithms are integrated to ease use for hobbyists, while compact storage features are tailored to apartment living.
“From the first day of electrification, the core purpose of power tools has been to extend human capabilities and liberate productivity,” the Mova executive said. “Beyond our standard product roadmaps, we are channeling resources into three frontier applications: tools for humanoid robots, power tools evolving into intelligent robotic systems tailored to industry scenarios, and human-machine symbiotic tools.”
Within six months, Mova has commercialized its consumer line in several European markets. Shipments began in September, with plans to expand through retail stores, Amazon, and independent e-commerce platforms. By the fourth quarter of 2025, the company expects its gross merchandise value to exceed RMB 100 million (USD 14 million).
Its professional product line is scheduled for release in the first quarter of 2026. With continued investment in deep tech R&D, Mova aims to penetrate the high-end market and strengthen its global positioning.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This article was written by Huang Nan for 36Kr.