Friday July 03, 2020
24-06-20

Logistics robots firm Geek+ raises over US$200m

One of Geek+'s picking systems
One of Geek+'s picking systems

Geek+, a global provider of advanced robotics for logistics, has closed its Series C funding round at over USD $200 million in early 2020.

The company continues to lead the industry with the largest fundraising to date, following a USD $150 million B series in November 2018, already the largest in the industry.

The C1 funding round was led by GGV Capital, D1 Capital Partners along with Warburg Pincus in Summer 2019, while C2, finalized earlier this year, was led by V Fund, along with Redview Capital and Vertex Growth Fund.

Geek+ Founder and CEO, Yong Zheng, commented: “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.

“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.”

Geek+ will focus on deploying its CARE strategy: bringing concrete, immediate and long-term value to Customers with efficient, flexible and scalable solutions, developing innovative AI applications to robotics and software in logistics, ramping up Robot-as-a-Service as an accessible business model for businesses and increasing relationships with technology and logistics ecosystem partners to lead the new digital supply chain.

Geek+ is the world’s largest AMR Company, with over 10,000 robots deployed worldwide, 300 customers and projects in over 20 countries. Global customers include Fortune 500 companies in retail, apparel, ecommerce, manufacturing, automotive, pharmaceutical and 3PL. Geek+ has won the RBR50 innovation award for two consecutive years, in 2019 and 2020, which selects the world's top 50 robotics companies.

SourceGeek+
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