Bytedance Participates in the Latest Round of Financing of VisionNav Robotics

(Source: VisionNav Robotics)

According to Zero2IPO, VisionNav Robotics (Shenzhen) Co., Ltd. recently went through a round of strategic financing, led by Bytedanfce, Lenovo Capital and Eastern Bell Capital.

In June, the company completed a B1 round financing with an aggregate amount of up to 100 million yuan, led by Lenovo Capital.

VisionNav Robotics was jointly founded by the doctoral team of the Chinese University of Hong Kong and the University of Tokyo in 2016. The company has always focused on R&D and application of visual-based driverless technology, and succeeded in incorporating visual control, perception and 5G technology into industrial vehicles. They have so far launched flexible, intelligent, reusable and cost-effective material handling solutions in logistics such as loading, unloading, storage and distribution.

The Shenzhen-based company is cooperating with JD.COMSuning.com, Cainiao, Amway and GAC Group. At present, its products include unmanned forklift VGV, VGV mobile robot, VGV box-shaped robot and unmanned tractor.

VisionNav Robotics is specialized in three core technologies: visual navigation, precise control, integration of cloud computing and 5G.

As a leading Internet company in China, Bytedance has invested in the fields of electric vehicle and autonomous driving.

SEE ALSO: TikTok Owner ByteDance Invests $25M in Self-Driving Startup QCraft: Report

In 2020, Li Auto received a cornerstone investment of $380 million, with Bytedance as one of the investors. Li Auto passed HKEX listing hearing on July 26 this year.

In March, Bloomberg reported that Bytedance invested in the autonomous driving company QCraft, something that attracted giant attention, with analysts arguing VisionNav Robotics’ core technology can help Bytedance in the field of self-driving vehicles.

In July, Tech Planet reported that Bytedance set up a food delivery business team. VisionNav Robotics’s unmanned logistics solutions are likely to provide support for the business.