Vertex helps carry $14m to Geek+
Posted on 22 March, 2017 by Thierry Heles, editor
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
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.
Latest magazinePast Issues
Get full online access, the monthly magazine, weekly news alerts, special reports and more.See all subscription options
January 22, 2018
January 29, 2018
February 05, 2018
February 12, 2018
January 26, 2018