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

22 Jun 2020

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.”

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 Silicon Republic