Warehouse Robot Firm Geek+ Secures $100M in E1-Round Financing

Geek+, a logistics industry robot company, announced on August 8 its completion of a new round of financing totaling $100 million. The investors were Intel Capital, Vertex Growth Fund and Qingyue Capital, with a post-investment valuation exceeding $2 billion.

The funds are mainly to be used for the acceleration of global market expansion and to promote the R&D of underlying technologies and the innovation of key products. Before this round of financing, Geek+ completed round-D financing led by CPE in early 2021.

Geek+ is a global leading logistics robot enterprise. According to a report by market research institution Interact Analysis, Geek+ has ranked first in the world for three consecutive years in terms of global AMR market share. It has served more than 500 global customers such as Nike, Walmart, Siemens, BMW, Toyota and DHL, and it has established strategic cooperative relations with Intel, Microsoft and Bosch Rexroth.

Geek+ has rich robot product lines. It covers broad capabilities for storage, sorting and sorting in warehousing scenarios, and also has products such as industrial handling robots and unmanned forklifts for manufacturing scenarios. Geek+ has created Matrix, a general robot ontology software and hardware technology platform, and RMS, a robot cluster management system platform.

SEE ALSO: Autonomous Driving Startup GoFurther.AI Secures Round A+ Financing

The company now has regional headquarters in the US, Europe, Japan, Singapore, South Korea, and Hong Kong, and it has established a complete local team. It has filed over 950 patent applications worldwide and has been granted over 400 patents.

Tianlin Wang, Managing Director at Intel Capital, said: “As the leading enterprise in the global AMR industry, Geek+ has always maintained deep technical cooperation with Intel. Geek+ is one of Intel’s benchmark partners in the field of robots and robot-based solutions. We hope to further deepen the cooperative relationship between the two parties through this investment, and will work with Geek+ in the future to create industry applications and solutions combining cloud, edge and end through AMR. We will continuously promote industry innovation and intelligence, and realize the infrastructure modernization of smart logistics on a global scale.”