Chinese Warehouse Robot Maker to Advance Production With USD1.6 Million Funding

Chinese Warehouse Robot Maker to Advance Production With USD1.6 Million Funding

Tang Shihua

Date: Wed, 03/28/2018 - 14:33 / source:Yicai
Chinese Warehouse Robot Maker to Advance Production With USD1.6 Million Funding
Chinese Warehouse Robot Maker to Advance Production With USD1.6 Million Funding

(Yicai Global) March 28 -- Chinese warehousing robotics startup Shanghai Mooe Robot Technology Co. has secured CNY10 million (USD1.6 million) in funding to further its efforts to expand mass production of new products.

Qidian Capital led Mooe Robot’s pre-A round of financing, which will also allow the firm to secure larger market share, online news outlet 36kr reported.

Mooe Robot mass produces two types of robots with load-bearing capabilities of 100 kilograms and 500 kg respectively. Both are able to move at 1.5 meters per second.

Compared with traditional automated guided vehicles and warehousing robots, Mooe Robot can achieve identification and localization in an unfamiliar environment without using QR codes, magnetic strips or reflectors, said Mooe Robot founder Qian Yongqiang, adding that its robots are able to navigate obstacles and re-plan routes.

The firm has reached breakeven point achieving orders worth more than CNY10 million last year. Major clients include carmaker BYD Company Ltd., Inventec Corp., Innolux Corp, major logistics platform Cainiao Network Technology Co.

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Keywords: FINANCING, Industry robot, Mooe Robot