Hai Robotics secures major funding for tech upgrades and expansion
China-based warehouse robotics startup, Hai Robotics, has raised $200 million.
The funding comes from two separate equity rounds, a Series C and Series D.
The former was led by 5Y Capital with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital.
The latter, the third capital infusion for the company in 2021, was headed up by Capital Today and also involved existing investors, including Sequoia Capital China, 5Y Capital, Source Code Capital, Legend Star, and 01VC.
The cash will be used to bolster its robot fleet through technological upgrades, and also for global expansion, optimising its supply chain management and hiring talent.
Hai Robotics, founded in 2016, has five overseas subsidiaries in Hong Kong SAR, Japan, Singapore, the US and the Netherlands with customers in more than 30 countries.
It has developed an autonomous case handling (ACR) system called HAIPICK. Its robots can pick and place totes or cartons on storage shelves up to five to seven metres high and are able to carry up to eight loads to continuously feed goods to person picking stations.
Guo Shanshan, a partner at Sequoia Capital China, says: “The case handling robot is riding on the market trend that shifts towards smaller workflows, such as from pallet picking to totes picking. We're very pleased to see the company's fast growth with good innovation.”
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