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 » AMR vendor ForwardX adds $38 million in venture funding

AMR vendor ForwardX adds $38 million in venture funding

Company plans to expand person-to-goods solution beyond China and U.S. markets into Japan, Germany, and the U.K.

March 25, 2021
DC Velocity Staff
No Comments

Beijing-based robotic automation provider ForwardX Robotics plans to expand the market for its autonomous mobile robots (AMRs) providing person-to-goods solutions in warehousing and manufacturing environments, thanks to a $38 million round of venture capital funding announced today.

The company says it will use the latest funding to accelerate development of both new and existing products, while expanding its market share across China and the U.S. and reaching into new markets such as Japan, Germany, and the U.K.

The second installment of a “series B” round was led by CDH Investments’s VGC, Eastern Bell Capital, and Dohold Capital, with participation by Angel Around and ZGC Group. The move brings ForwardX’s total series B funding to over $63 million after an initial round of $10 million in March 2019 and an extension of $15 million in April 2020. In total, the company has raised close to $74 million in venture capital since its founding in 2016.

“The next three-to-five years will be seen as the golden age of the AMR industry,” Mingyu Wang, senior partner at CDH Investments, said in a release. “With ForwardX’s multi-robot cluster scheduling capabilities and ability to commercialize its solution, we are very optimistic about ForwardX’s future and the value it will create in the AMR field.”

ForwardX says its combination of intelligent mobile robot fleets and AI-driven fleet management software empowers warehouses and factories to double worker productivity while reducing labor-related costs such as wages, recruitment costs, and training costs. The solution also helps facilities become more agile when faced with fluctuating volume, increasingly complex processes, and rising external cost pressures, the firm says.

Robotics Robotic Picking and Loading
KEYWORDS ForwardX Robotics
  • Related Articles

    Logistics robotics vendor ForwardX lands $15 million funding in latest round

    Scandit lands $7.5 million in venture funding

    FreightWaves raised $13 million in venture funding

Recent Articles by DC Velocity Staff

Logistics gives back: April 2021

Watch that digital reef

Pandemic is just one threat to safety

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

  • Exotec Skypod System Adopted by Gap Inc. to Optimize Returns Process

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

  • Truck driver availability tightens to three-year low, ACT says

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