Chinese autonomous mobile robot (AMR) company ForwardX Robotics has completed an RMB 100 million (USD 14.1 million) Series B+ financing round, led by SINO-BLR Industrial Investment Fund of China Merchants Capital, local tech media 36Kr reported.
The new funds will be used for product development, supply chain establishment, and commercialization, the firm announced.
Prior to this round, the company also secured RMB 100 million in its Series B financing round in March 2019, led by Hupan Licheng.
Founded in 2016, ForwardX Robotics provides robotic solutions to serve enterprises and the mass consumer market with technologies including computer vision and artificial intelligence (AI), with its products being applied to logistics and manufacturing industries.
The company is headquartered in Beijing with US offices in San Diego and Phoenix.
36Kr is KrASIA’s parent company.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.