Logistics robotics firm Geek+ closes $200m Series C round

22 Jun 2020263 Views

The start-up's picking robots. Image: Geek+

Geek+, a Beijing-based robotics start-up with more than 10,000 robots deployed to customers worldwide, has raised $200m in Series C funding.

On Thursday (18 June), Chinese logistics robotics business Geek+ announced the close of a $200m Series C funding round. The financing follows a $150m Series B round that was closed in November 2018.

The first part of the Series C funding, held last summer, was led by GGV Capital, D1 Capital Partners and Warburg Pincus. The second part of the Series C was finalised earlier this year, led by V Fund with participation from Redview Capital and Vertex Growth Fund.

With fresh funding, the company said that it will now focus on bringing concrete, immediate and long-term value to customers with efficient, flexible and scalable solutions, developing AI applications for robotics and software in logistics, and ramping up the company’s robot-as-a-service approach.

The ‘future’ of logistics 

Yong Zheng, co-founder and CEO of Geek+, said: “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.”

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Zheng added that the firm remains confident that it will continue to grow and innovate its robotics technology, which represents “the future” of global logistics.

According to Geek+, the firm has more than 10,000 robots deployed worldwide, with 300 customers and projects in more than 20 countries. The start-up said that its customers include Fortune 500 companies in retail, apparel, e-commerce, manufacturing, automotive, pharmaceutical and third-party logistics.

Among the start-up’s robotics solutions are goods-to-person picking, bin-to-person roboshuttle systems, disinfection robots, sorting, moving and forklift robotics, as well as fully integrated solutions for automated smart fulfilment centres and smart factories. The company has also introduced a robot-making-robot factory, where all of its robots are produced.

As well as its headquarters in Beijing, Geek+ has offices in Germany, the UK, the US, Japan, Hong Kong and Singapore, with more than 800 employees.

Kelly Earley was a journalist with Siliconrepublic.com

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