Yahoo Finance Geek+, the Amazon Kiva of China, lands $200 million Series C
Geek+, a Beijing-based startup that makes warehouse fulfillment robots similar to those of Amazon's Kiva, said Thursday that it has closed over $200 million in a Series C funding round.
That bumps total capital raised by the five-year-old company to date to nearly $390 million. The new round, completed in two parts, was separately led by GGV Capital and D1 Capital Partners in the summer of 2019, and V Fund earlier this year. Other participants included Warburg Pincus, Redview Capital and Vertex Growth Fund.
The company said it will continue to develop robotics solutions tailored to logistics, ramp up its robot-as-a-service monetization model and expand partnerships.
Geek+ represents a rank of Chinese robotics solution providers that are increasingly appealing to clients around the world. The startup itself boasts more than 10,000 robots deployed worldwide, serving 300 customers and projects in over 20 countries.
Just last month, Geek+ announced a partnership with Conveyco, an order fulfillment and distribution center system integrator operating in North America, to distribute its autonomous mobile robots (ARMs) across the continent. Leading this part of its business is Mark Messina, the startup's chief operating officer for the Americas who previously worked at Amazon, where he oversaw mechanical engineering for the Kiva robotics system.
Geek+'s ambitious move overseas came amid continuous pressure from the Trump administration to boycott Chinese tech players. Back home, Geek+ has worked closely with retail giants such as Alibaba and Suning to replace human pickers in warehouses.
The article was updated on June 23, 2020 to correct the name of investor Vertex Growth Fund from Vertex Ventures .
