Intelligent Warehousing Enterprise WhaleHouse Completes $50 Million B2 Round of Financing
Chinese intelligent warehousing enterprise WhaleHouse Technology recently completed its B2 round of financing totaling $50 million, with XVC, Yunfeng Fund, Defiance, Baidu Ventures and GSR United Capital all serving as investors.
Li Linzi, Founder and CEO of WhaleHouse, said that this round of financing is mainly to be directed towards R&D of new technologies for intelligent storage equipment and the marketing of shared smart warehouses, further lowering the threshold for retailers to use shared smart warehouses, and allowing more retailers to experience a performance service.
Established in 2014, WhaleHouse is a supplier of intelligent and automated warehouse solutions with independent innovation. In 2018, WhaleHouse launched the Picking Spider System, for which it owns independent intellectual property rights. In 2019, WhaleHouse began to provide shared smart warehouses for brand retailers. At present, WhaleHouse provides whole-link smart warehouse solutions, including storage, selecting, distribution, management and assessment, and its customers include Adidas, Nike and Samsung.
In China, as new retail channels such as live e-commerce emerge, the online retail industry has ushered in a new wave of development, and warehousing and distribution services, parts of the industrial chain, welcome opportunities for explosive development.
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Li Linzi said that the warehouse service occupies a market size of 2 trillion yuan ($313 billion) every year, and is currently growing. China now has millions of retail enterprises that need warehousing and distribution solutions. Only 1% of large retailers need to buy advanced “tools” to improve warehouse and delivery “capacity,” while the remaining 99% of enterprises only need warehouse and delivery “services.” So far, there is no giant in the third-party warehouse and delivery industry, so the sector now boasts huge growth potential and enormous space for integration.