Vertex helps carry $14m to Geek+

Logistics robot developer Geek+ has secured series A+ funding, adding to a $7m series A round raised last year.

Vertex Venture Holdings, a wholly-owned subsidiary of Singapore-state owned investment firm Temasek, has led a RMB100m ($14m) series A+ round for China-based warehouse automation technology developer Geek+, China Money Network reported on Monday.

Banyan Capital and Volcanic Stone Investment also participated, having previously injected $7m in series A capital in May 2016.

Established in 2015, Geek+ produces robots that select, transport and sort packages in warehouses. The robots can either conduct operations on their own or assist human workers.

The money will go towards R&D, drive recruitment and support expansion efforts.

See more from this Government Report: Singapore

Back

Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Temasek-backed Adyen announces IPO plans

    June 01, 2018

  2. Ant Financial seals $10bn

    June 01, 2018

  3. Enterprise Ireland joins $10.9m Neurent round

    June 01, 2018

  4. Northern Ireland backs $4.3m SiSaf round

    June 01, 2018

  5. BDC joins $4.5m AvenueHQ round

    June 01, 2018