Geek+ secures USD 150 mln in Series B financing for logistics robotics

Monday 26 November 2018 09:45 CET | News

China-based robotics firm Geek+ has secured a Series B finance injection in logistics robotics, with an USD 150 mln investment led by Warburg Pincus

 Geek+, founded in 2015, combines robotics, AI, cloud computing, big data, and IoT for its supply chain and logistics services. Its products and services include a cargo-to-man picking system, intelligent moving technology, and intelligent sorting.

The firm’s ultimate aim is to empower businesses with the capacity for fully-automated warehouses and factories, maximising operational efficiency and cutting costs over time. This USD 150 millionn boost to Geek+ will go towards increased investment and growth, according to the company’s press release, with a focus on innovation, its global distribution network, and an improved customer service offering.

According to Warburg Pincus representatives, Geek+ is able to combine robotics, big data, AI and other technologies to solve the pain points of the traditional supply chain.”

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Keywords: Geek+, Warburg Pincus, financing round, investment, China, logistics robotics, supply chain finance, payments , automation
Countries: World