Chinese warehouse robotics provider Geek+ continues to attract hefty backing from investors for its logistics robots, announcing today that earlier in 2020, it had collected a $200 million venture capital round.
The Beijing-based company said the funding came from a two-part “series C” round that was led by V Fund, along with Redview Capital and Vertex Ventures. The first part of its “series C” round was an investment that occurred in Summer 2019 and was led by GGV Capital and D1 Capital Partners along with Warburg Pincus.
The combined deal follows Geek+’s previous big splash in the investment world, when the company landed $150 million in a 2018 “series B” round that was led by New York-based Warburg Pincus, with participation from Volcanics Venture and Vertex Ventures.
Geek+ calls itself the world’s largest autonomous mobile robot (AMR) company, pointing to its deployment of over 10,000 robots worldwide for customers in retail, apparel, e-commerce, manufacturing, automotive, pharmaceutical, and third party logistics (3PL).
The company says its product portfolio covers all robotics categories and scenarios in both warehousing and factory environments, including: goods-to-person picking, a bin-to-person RoboShuttle System, disinfection robots, and sorting, moving, forklift, and integrated solutions for automated “smart” fulfillment centers and factories.
“We are thankful for the confidence our investors have in the Geek+ vision, strategy, and the broad commercial applications of our products. Our robotics solutions already create real and visible business returns for nearly 300 companies worldwide,” Yong Zheng, Geek+’s founder & CEO, said in a release. “We are proud of our achievements, confident in our continued growth and the depth of innovation and commercial application still to be explored for logistics robots. We know AMRs to be the future of the global logistics, and are pleased with the investors’ confidence in their market prospects.”
