Beijing - based robotics company enterprise has raised $ 150 m in a venture B funding round led by venture private equity firm Warburg Pincus . The latest investment will contribute towards the company 's goal of doubling the size of its AI - enabled logistics robot business , which delivers goods - to - person , smart , automated forklifts . Through its combination of robotics , big data and AI - algorithms , the company has delivered 5,000 robots to 100 customers in e - commerce , pharmaceuticals and fast fashion to date . With the US warehouse robotics market expected to top $ 20bn by 2024 and China 's e - commerce sector surpassing $ 4tn in 2017 , corporations like Geek+ are set to grow rapidly .
Beijing-based robotics company Geek+ has raised $150m in a series B funding round led by US private equity firm Warburg Pincus. The latest investment will contribute towards the company's goal of quintupling the size of its AI-enabled logistics robot business, which includes goods-to-person, smart, automated forklifts. Through its combination of robotics, big data and AI-algorithms, the company has delivered 5,000 robots to 100 customers in e-commerce, pharmaceuticals and fast fashion to date. With the US warehouse robotics market expected to top $20bn by 2024 and China's e-commerce sector surpassing $4tn in 2017, corporations like Geek+ are set to grow rapidly.