We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Subscriptions
    • Podcast
    • Webcasts
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • The Logistics of Defense
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Subscriptions
    • Podcast
    • Webcasts
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • The Logistics of Defense
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Geek+ Completes World's Largest Series B Financing in Logistics Robotics Led by Warburg Pincus
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Geek+ Completes World's Largest Series B Financing in Logistics Robotics Led by Warburg Pincus

November 21, 2018
No Comments

Beijing, November 21, 2018 - AI & Robotics company Geek+ announced today that it has completed a Series B financing of $150 million, the world's largest financing in AI-enabled logistics robotics. As of the closing of this round of financing, Warburg Pincus has committed a total of approximately $100 million in Geek+ through a series of investments since 2017, which had also been participated by other existing shareholders including Volcanics Venture and Vertex Ventures.


Founded in 2015, Geek+ is a leading AI & Robotics company that integrates Robotics, AI, Big Data, Cloud Computing, and IoT technologies to provide intelligent robotics solutions and one-stop supply chain services. Geek+ is committed to empower global logistics, manufacturing and retail industries through revolutionary and innovative technologies. Geek+'s AI-enabled logistics solutions include "goods-to-person" picking system, intelligent moving system, intelligent sorting system, and automated forklift, to cover the entire process of warehousing, logistics and manufacturing. By integrating these solutions, Geek+ is capable of helping customers achieve highly-automated, or unmanned warehouses and factories.

To date, Geek+ has delivered more than 5,000 robots and implemented over 100 robotics warehouse projects to customers globally, including mainland China, Hong Kong, Taiwan, Japan, Australia, Singapore, Europe, and the United States. The Company has also formed strategic partnerships with many leading multinational companies in various industries, such as e-commerce, logistics, automotive, fast fashion, and pharmaceuticals.

Mr. Yong ZHENG, Founder and CEO of Geek+, said: "The investment by Warburg Pincus and other shareholders fully demonstrates their recognition of Geek+'s development and their confidence in Geek+'s future prospects. We will continue to focus on empowering various industries through AI & Robotics technologies. This year, we expect to grow our business by more than five times. This round of financing will further strengthen Geek+'s continued investments in innovative products and solutions, global distribution network, and customer service. We will continue to be customer-centric, and create values for customers through a seamless integration of AI & Robotics technologies and customers' supply chain needs."

Mr. Jericho Zhang, Executive Director of Warburg Pincus, commented: "Since our first investment in Geek+ last year, we have been very impressed with Geek+'s rapid growth, especially in business expansion and internationalization. Technology is revolutionizing supply chain. Geek+ is one of the leading technology companies that is able to combine robotics, big data, AI and other cutting-edge technologies to solve the pain points of the traditional supply chain. As it accumulates more data, and continues to optimize algorithms and expand into other industries, we are confident that Geek+ will continue to lead the revolution and innovation in the space."

Warburg Pincus is a global private equity firm focused on growth investing. Since 1994, the firm has invested more than? $11 billion? in over 100 companies in? China. Machine learning and AI have been a key focus of the Warburg Pincus' technology practice.? The firm has invested in mobile endpoint security service provider Zimperium, leading speech recognition and transcription provider Nuance, compensation data vendor Payscale, student analytics provider Civitas and computer vision company Trax.

Media Enquiries:
Geek+
Yunfan Gao
+86 10 56106684
gaoyunfan@geekplus.com.cn

Warburg Pincus
Mingxia Li
+86 10 59232569
mingxia.li@warburgpincus.com

More Info: http://www.geekplusrobotics.com

Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • A look into the future of robotics

  • A primer on warehouse robots

  • Roadrunner Freight bolsters LTL capabilities with $50 million in new backing

  • Southeastern Freight Lines Promotes Marty Cox to Service Center Manager in Cincinnati, Ohio

  • Pull back or go deeper—how the pandemic influenced shipper-3PL engagement

Now Playing on DCV-TV

9cddf77b a6f2 40d3 b603 004e451106fb

Dealing with Rapidly Rising Freight Costs

DCV-TV 4: Viewer Contributed
I don’t know if it’s because of our Two Minute Warnings, or the fact that shippers are experiencing the conditions we warned about in our Code Red webcasts, but lately, I’ve heard the same message from several C-Level and supply chain executives: Their companies are experiencing supply chain challenges and their...

FEATURED WHITE PAPERS

  • Special Report: Supply Chain Trends in Retail & Consumer Goods

  • Fortify Your Operational Resilience

  • Cold Storage Automation: Leveraging Advanced Technologies to Meet Increasing Demand

  • The modern warehouse: Maximizing productivity and capacity

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing