China’s HAI Robotics Scores $200M in Multiple Funding Rounds
September 21, 2021
HAI Robotics, a Chinese warehouse robotics startup that develops autonomous case-handling robotics (ACR), has announced it secured two new continuous rounds of financing (Series C and D), raising $200 million in total. The funds will be used to boost the company’s robot fleet with technological upgrades, expand its global operation networks, optimize its supply chain management, and expand its corporate structure and talent.
In 2015, the company launched its first ACR system, known as HAIPICK. The HAIPICK robots can pick and place totes or cartons on storage shelves up to 5 to 7 meters high, and can carry up to eight loads to continuously feed goods-to-person picking stations. The company said HAIPICK stands out from similar mobile robots with its ability to carry cartons as well as individual totes, and to bring multiple cases to pickers or conveyors in one movement. The company said it can help realize warehouse automation in just a week, increase storage density by 80% to 130%, and improve workers’ efficiency by 3x to 4x.
The HAIPICK system first worked with shoes and apparel projects in the wave of warehousing automation. The company said it has run more than 200 projects worldwide, with more than 2,000 ACR robots deployed, accounting for 90% market share in the ACR robot space. Customers include LG CNS, MHS, MUJIN, BPS, Savoye, and others.
“Our major future orientation will center on expanding the overseas market and localizing our service,” said Richie Chen, the company’s co-founder and CEO. HAI said it thinks it has an edge over its overseas counterparts in many aspects, including project cost, technology and customization capability, and that it has matured in catering to the various demands in the dynamic Chinese market.
The Series C round funding was led by 5Y Capital, with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital. The Series D round funding, the third capital infusion for the company this year, was led by Capital Today with some existing investors, including Sequoia Capital China, Source Code Capital, Legend Star, and 01VC. Earlier in March, the company announced B+ round funding of $15 million.
“The case-handling robot is riding on the market trend that shifts towards smaller workflows, such as from pallet-picking to totes-picking,” said Guo Shanshan, a partner of Sequoia Capital China. “We’re very pleased to see the company’s fast growth with good innovation.”
For more details on HAI Robotics, visit its website here.