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.

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