Geek+, the Chinese logistics robot manufacturer whose clients include Alibaba, has secured $14m in a new funding round.
According to a report published today (20 March) by China Money Network, the funding round was led by Vertex Venture Holdings, a subsidiary of Singapore’s Temasek, with participation from Banyan Capital and Volcanic Stone Investment.
Geek+ makes low-riding warehouse robots that can help to select and transport warehouse shelves and packages.
The company said that hundreds of its robots are already operating in warehouses and e-commerce fulfilment centres in China.
China is now the world’s biggest buyer of industrial robots – having overtaken Japan in 2013 – but the majority of these bots are currently being produced outside China.
Source: China Money Network