(Yicai Global) Jan. 18 -- China's Mushiny Intelligence Technology, a warehouse management system-maker, has secured an investment from Chinese venture capital firm CDH Investments.
The A series financing round will speed up Mushiny's development in intelligent warehousing algorithms, robotics, as well as business expansion domestically and abroad, and third-party warehousing, the Suzhou-based firm said in a statement today, without disclosing the scale of investment.
Henry Low, former director from Amazon's Prime Now
The firm has appointed Henry Low as the chairman of its delivery affiliate, Fu'en Logistics. Mr. Low, a former Amazon global vice president, has 30 years of high-tech business experience in the US, Japan, Malaysia, Singapore and China, the statement added.
Logistics and warehousing industry will soon be transformed from labor-intensive to technology-intensive, with smart operations to process a massive amount of stock keeping units while maintaining a high unit per hour score, Low said.
Liu Ming, Mushiny's founder
Mushiny's founder Liu Ming said in the press release that he hopes the firm will reach efficient and low-cost unmanned operation of warehouses.
Xi Yuxiang, a partner at CDH Venture and Growth Capital, said he is very optimistic about Mushiny's ability to obtain contracts in China and overseas, as well as the rich experiences of the team.
Editor: Emmi Laine