Less than a year after raising $200 million, Chinese warehouse automation company Hai Robotics announced a $100 million Series D+ funding round.
The funding is the third round raised in the past year as the acceleration of warehouse robotics intensifies across the globe. Hai has now raised $315 millionaccording to Crunchbase, over six rounds in total.
As in previous rounds, Hai did not post any rating associated with the new round.
“This round of funding will be dedicated to intensifying R&D of robotic warehousing logistics systems and expanding global business, to provide more efficient, intelligent and flexible products to power every warehouse with robots to address labor shortages and meet the challenges posed by an aging population,” said Richie Chen, Founder and CEO of the company.
The latest round was led by Capital Today and an undisclosed US fund. Existing shareholders 5Y Capital, Source Code Capital, Sequoia Capital and 01VC also participated.
The Shenzhen, China-based company specializes in autonomous robotic checkout processing (ACR) systems, launching its first such system, the Haipick, in 2015. The Haipick uses the ACR to store and retrieve up to to eight boxes at a time in tall, narrow containers. storage aisles. By condensing the aisles, the Hai system is able to increase storage density between 80% and 130% while improving warehouse efficiency up to four times, the company said.
Once the crates are picked up, the robots operate in a goods-to-person framework, moving inventory into position to power order fulfillment and other logistical processes.
Hai said its solutions lead to a three- to four-fold increase in productivity for warehouse operators and increase storage capacity by up to 230% compared to manually operated warehouses. The company has conducted more than 200 projects around the world with more than 2,000 ACR robots deployed, accounting for 90 percent of the ACR robot market share, he said.
Warehouse automation saw 50% growth in venture capital investment in 2020, and the global warehouse robotics industry is expected to reach $6.8 billion by 2025. Despite the growing pressure for speed and accuracy generated by e-commerce, 80% of warehouses are still operated manually without supporting automation, according to DHL.
According to Hai, he now has over 500 projects underway in over 30 countries with offices in the United States, Europe, Japan, Southeast Asia, Australia, Hong Kong and Taiwan.
In September 2021, Hai Robotics announced $200 million in funding through two rolling funding rounds. A Series C funding round was led by 5Y Capital with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital. A Series D funding round was led by Capital Today, with existing investors including Sequoia Capital China, 5Y Capital, Source Code Capital, Legend Star and 01VC. In March 2021, 5Y Capital led a $15 million Series B+ funding round in Hai with participation from existing investors Source Code Capital and Walden International.
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