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Geek+, the Amazon Kiva of China, lands $200 million Series C

Geek+, the Amazon Kiva of China, lands $200 million Series C

Amelia
by Amelia Scott — 3 months ago in Business Ideas < 1 min. read
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Geek+, a Beijing-based startup which produces warehouse satisfaction robots much like those of Amazon’s Kiva, stated Thursday it has closed $200 million in a Series C financing round.

That bumps total capital raised by the 5-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 Ventures.
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The business said it will continue to create robotics solutions tailored to logistics, ramp up its own robot-as-a-service monetization version, and expand partnerships.

Geek+ signifies a rank of Chinese robotics alternative providers which are increasingly attractive to customers around the globe.

The startup itself boasts over 10,000 robots located globally, serving 300 clients and projects in more than 20 nations.

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.
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Geek+’s ambitious movement abroad came amid constant pressure in the Trump government to boycott Chinese technology players.

Back residence, Geek+ has worked closely with retail giants like Alibaba and Suning to substitute individual pickers in warehouses.

Amelia Scott

Amelia is a content manager of The Next Tech. She also includes the characteristics of her log in a fun way so readers will know what to expect from her work.

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