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Financials

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Revenues, earnings & profits over time
USD2019202020212023
Revenues0000000000000000
EBITDA0000000000000000
Profit0000000000000000
EV0000000000000000
EV / revenue00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x
R&D budget0000000000000000

Source: Dealroom estimates

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More about Sublue
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Sublue, officially Tianjin Deepinfar Ocean Technology, is a high-tech enterprise established in 2013, focusing on the research, development, production, and sales of underwater intelligent equipment. Headquartered in the Tianjin Economic-Technological Development Area (TEDA), the company has built a global presence with offices in major cities like Shenzhen and Los Angeles. Sublue has secured significant funding, including a Series B+ round of 120 million yuan ($17.1 million) in 2020 from investors such as Minsheng Securities and TEDA Venture Capital, to fuel product development and market expansion.

The company operates with a dual focus, serving both industrial and consumer markets. For enterprise clients, Sublue provides industrial-grade products like Remotely Operated Vehicles (ROVs), Autonomous Underwater Vehicles (AUVs), and underwater gliders. These solutions cater to sectors such as marine scientific research, offshore wind power, emergency rescue, and aquaculture. On the consumer side, which launched in 2016, Sublue has carved out a significant niche in water sports and recreation. The company is recognized for its extensive line of personal underwater scooters (also known as Diver Propulsion Vehicles), electronic kickboards, and waterproof accessories designed for diving, snorkeling, and general water-based fun. The business model appears to be direct-to-consumer through its official online store and through partnerships with dealers and affiliate programs.

Sublue's consumer product portfolio includes several models tailored to different user needs, from beginners and children to experienced divers. Key products like the WhiteShark series (Mix, MixPro), the Navbow, and the high-end Vapor offer varying levels of power, speed, and features. These underwater scooters are characterized by their dual-propeller designs, which provide smooth propulsion and maneuverability. Features often include multiple speed settings, compact and portable designs, and user-friendly controls. The company has expanded its offerings to include robotic pool cleaners and quiet electric outboard motors, demonstrating a commitment to broadening its impact on water-based technology and recreation. Sublue holds a substantial intellectual property portfolio with over 360 technology patents and claims a global market share of nearly 65% in the underwater scooter segment.

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