Hai Robotics scores $ 200 million for its warehouse robot – TechCrunch
Hai Robotics, a warehouse robotics startup based in Shenzhen, China that is developing an autonomous robotic case handling system (ACR), announced it has raised $ 200 million. Funding comes from two separate rounds of funding, a Series C and a Series D, which are disclosed simultaneously.
Its Series C funding was led by 5Y Capital, with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital, while the Series D round was led by Capital Today with existing investors, including Sequoia Capital China, 5Y Capital, Code source Capital, Legend Star and 01VC.
The latest funding, which comes after its $ 15 million Series B + funding round in March this year, will be used to bolster its robot fleet with technology upgrades, further penetrate the global market, hire talent and support the management of its supply chain.
Hai Robotics, founded in 2016, has five overseas subsidiaries in Hong Kong SAR, Japan, Singapore, the United States and the Netherlands with international customers in over 30 countries. The company entered Australia this year by deploying warehouse robots from HAI to Australia’s largest online bookstore, Booktopia, to handle packaging and shipping orders.
âOur major future direction will focus on expanding the overseas market and localizing our service,â said Richie Chen, co-founder and CEO of Hai Robotics.
Hai Robotics is developing an Autonomous Case Processing (ACR) system that provides warehouse automation solutions through robotic technology and AI algorithms for the logistics warehouse industry. The company said it holds more than 400 global patents in areas such as robot control and warehouse management, based on its statement.
The global warehouse automation market is expected to reach $ 30 billion by 2026, at a CAGR of 14%, from $ 15 billion in 2019, according to a report by Logistics IQ.
Nowadays, a number of startups and large tech companies are building warehouse robots – industrial applications more generally being one of the oldest and most successful use cases for robots. Others include Fetch Robotics, NextShift Robotics, and Alog Tech.
Chen also said the company differs from other global peers in many aspects, including project costs and the ability to customize. Hai Robotics has carried out over 200 projects worldwide with 2,000 ACR robots deployed. Its ACR system can be applied in various industries such as clothing, e-commerce, retail, manufacturing, 3PL, electronics, pharmacy, energy and automotive. He has partnered with global logistics and supply chain companies including LG CNS, MUJIN, BPS Global and Savoye.
In 2015, the company launched its first ACR system (called HAIPICK A42), which can pick and place bins and boxes on storage racks up to 5-7 meters high and transport up to 9 loads to conveyors.
Hai Robotics has several other models in this line.
âThe case handling robot is riding the market trend that is moving towards smaller workflows, such as picking from pallets to picking from bins. We are very happy to see the rapid growth of the company with good innovation, âsaid Guo Shanshan, partner of Sequoia Capital China.