(Yicai Global) Dec. 17 -- Chinese smart logistics firm Quicktron Intelligent Technology, which is reportedly planning to go public on Shanghai's Star Market, has bagged about USD100 million in its Series C+ round of financing, participated by international investors.

German warehouse equipment maker Kion Group, Saudi Arabian Oil's Prosperity7 Ventures, several Chinese financial institutions, and an existing shareholder, China Creation Ventures, took part in this round, China Securities Journal reported.

Founded in 2014, Quicktron makes logistics robots and warehousing solutions. The company has built China’s largest autopilot warehouse to date in eastern China's Wuxi for Alibaba Group Holding’s logistics unit Cainiao Network.

Quicktron has benefited from China's booming e-commerce sector as has been reported to intend to start its listing process in 2021 to go public on Shanghai's Nasdaq-style board. The company's order volume is expected to more than triple this year from a year ago, according to public data. Its 2019 annual revenue jumped nearly 10 times from 2017.

The funds will be used for technical upgrading, according to the same news report. The tech firm started building its robot manufacturing factory in Shanghai yesterday with a total investment of CNY500 million (USD76.5 million).

Editor: Emmi Laine