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Chinese AMR market leader, Geek Plus closes the largest AMR funding round to date with a $200M series C funding round. Founded in 2015, this round brings Geek+'s total funding to $439.4M (USD). While the news is astounding, this was a long series C round which started a year ago in July 2019 with $150M and closes with additional $50M today.
C1 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 Ventures.
Yong Zheng, Founder & CEO at Geek+ 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+ 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 Plus Receives a Recommended Solution Rating in Disinfection Solutions Buyers Guide
This spring, Geek+ launched two new disinfection solutions in response to the COVID pandemic. The Geek+ Lavender Robot and the Geek+ Jasmin Robot offer UVC Light and biocide spraying options, respectively, for disinfecting facilities. Both solutions are included in the Mobile Robot Guide Disinfection Solutions Buyers Guide, where they received a Recommend Solution rating in the buyers guide. The disinfection market represents a new venture for Geek+, but the company was able to quickly develop and release the new solutions based on the strength of their core technology.
Geek Plus was awarded a Recommended Solution Award in the recently published Disinfection Solutions Buyers Guide.
RaaS Becomes a Key Sales Model for Geek Plus Solutions
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.
CARE is a four part strategy starting with a Customer focus. Key to Geek+'s engineering direction is investment in the AI technology at the heart of the system. Investment from this series C round will help Geek+ to hire more AI talent in their engineering team, and further push their market leadership. Robots as a Service is the third pillar of the CARE strategy and the final piece of the puzzle may consume the biggest chunk with the Eco-system enabling programs which will help Geek+ expand and grow into new markets.
Yong Zheng, founder and CEO at Geek+ said: "Our vision is to become a global AI robotics leader, to build a smart infrastructure and service network based on robotics technology and strategic partnerships, integrating more and more technology and industrial partners to help customers achieve a digital, agile and intelligent supply chain. To realize this vision, we will steer our growth in four dimensions: customer focus, technology innovation based on AI R&D, business innovation through Robot as a service business model and industry integration with a supply chain ecosystem. The CARE strategy."
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