Chinese Robotics Warehouse Startup HAI ROBOTICS Bags $200M Funding
Shenzhen-based warehouse robotics startup HAI ROBOTICS announced that it has secured two new continuous rounds of financing, garnering over $200 million in total.
The company will invest the funding in boosting its robot fleet with technological upgrades, expanding its global operation networks, optimizing its supply chain management and corporate structure as well as recruitment.
The C round funding was led by 5Y Capital with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital.
The D round funding, the third capital infusion for the company in 2021, was led by Capital Today with some prior investors, including Sequoia Capital China, 5Y Capital, Source Code Capital, Legend Star, and 01VC.
Earlier in March, the company announced a B+ round funding of US$15 million. The quick pace of funding may offer a glimpse to the market’s appraisal for its products, technological strength and services.
HAI ROBOTICS launched the world’s first autonomous case-handling robotics (ACR) system, HAIPICK, in 2015. The HAIPICK robots can pick and place totes or cartons on storage shelves up to 5 to 7 meters high and are able to carry up to 8 loads in a process that continuously feeds picking stations. The process can help realize warehouse automation in just a week, increase storage density by 80-130%, and improve employees’ work efficiency by 3-4 times.
The global supply chain and warehousing logistics market in the past fews years has seen a surge of automation transformation. As per LogisticsIQ’s market report, the warehouse automation market is expected to be worth US$30 billion by 2026, at a CAGR of 14% since 2019.
SEE ALSO: Xpeng Releases World’s First Intelligent Robot Horse that People Can Ride
So far, the company has been running over 200 projects around the globe with more than 2,000 ACR robots deployed, accounting for a 90% share in the ACR robot market.
“Our major future orientation will center on expanding the overseas market and localize our services,” said Richie Chen Yuqi, the company’s founder and CEO.
Founded in 2016, HAI ROBOTICS has acquired more than 400 global patents for core intellectual properties involving positioning, robot control and warehouse management.