{"id":40357,"date":"2025-01-21T23:04:23","date_gmt":"2025-01-21T23:04:23","guid":{"rendered":"https:\/\/accountants4yourbusiness.co.uk\/5g-technology\/warehouse-robotics-startup-forwardx-raises-31m-in-first-series-c-close\/"},"modified":"2025-01-21T23:04:23","modified_gmt":"2025-01-21T23:04:23","slug":"warehouse-robotics-startup-forwardx-raises-31m-in-first-series-c-close","status":"publish","type":"post","link":"https:\/\/accountants4yourbusiness.co.uk\/?p=40357","title":{"rendered":"Warehouse robotics startup ForwardX raises $31M in first Series C close"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"speakable-summary\"><a href=\"https:\/\/www.forwardx.com\/\" target=\"_blank\" rel=\"noopener nofollow\">ForwardX Robotics<\/a>, a Beijing-headquartered company that makes autonomous mobile robots (AMR), said Tuesday it has closed the initial tranche of its Series C funding round as it looks to expand globally.<\/p>\n<p>The startup is fundraising for the rest of its Series C round at a time investors are courting warehousing and manufacturing robot makers in China, the company\u2019s chief operating officer Yaxin Guan told TechCrunch during an interview.<\/p>\n<p>The new investment lifted ForwardX\u2019s total raise to about $100 million since Nicolas Chee, a <a href=\"https:\/\/www.linkedin.com\/in\/nicolas-chee-0352502a\/\" target=\"_blank\" rel=\"noopener nofollow\">former vice president at Oracle<\/a>, founded the company in 2016. The startup declined to disclose its post-money valuation or how much it plans to rake in for the entire Series C.<\/p>\n<p>The C1 round was led by Taikang Life Insurance, a Chinese insurer, with participation from Qualcomm Ventures and Starlight Capital, an early-stage Chinese investment firm focused on industrial upgrades.<\/p>\n<p>In 2014, Qualcomm <a href=\"https:\/\/www.qualcomm.com\/news\/releases\/2014\/07\/23\/qualcomm-commits-150-million-strategic-venture-fund-china\" target=\"_blank\" rel=\"noopener nofollow\">announced<\/a> that it had committed $150 million to fund Chinese startups advancing mobile technologies for the internet, e-commerce, semiconductor, health and education.<\/p>\n<p>Having the chipmaking giant onboard will allow ForwardX to \u201cwork with a 5G technology leader to further advance the use of 5G in its smart warehousing and manufacturing projects,\u201d the company said, though the startup is currently using chips from another major supplier.<\/p>\n<p>With the new financial injection, the Chinese startup plans to accelerate its R&amp;D timeline, ramp up its deployment capabilities in \u201ckey markets\u201d such as the U.S., and expand sales into new markets.<\/p>\n<p>Most of its revenues currently come from China, with e-commerce powerhouse JD.com and logistics behemoth SF Supply Chain China, which has a partnership with DHL, being two of its main customers. The robot maker so far has accured more than 5 million picks for JD.com\u2019s warehouses, according to Guan.<\/p>\n<p>Like a few other <a href=\"https:\/\/techcrunch.com\/2020\/12\/30\/flexiv-100-million-series-b\/\" target=\"_blank\" rel=\"noopener\">Chinese robotics startups<\/a>, ForwardX is making a steady foray into overseas markets. It already opened an office in Tokyo, is on course to launch a U.S. branch and plans to enter Europe next year.<\/p>\n<p>That means it\u2019s coming after its American counterparts like Locus Robotics and 6 River Systems. To compete, the company claimed its\u00a0solution requires less initial investment than its competitors due to \u201ccompetitive hardware costs and a need for fewer robots per person in its solutions.\u201d Its robots can carry up to 1,200 kilograms of goods each.<\/p>\n<p>Aside from selling AMR solutions, ForwardX also touts a fleet management system that can determine how robots roam about within a warehouse, not unlike algorithms used by ride-hailing platforms to optimize driver productivity.<\/p>\n<p>With help from its lidar- and deep learning-enabled robots, workers can spend more time picking than walking around, and new hires are spared from having to memorize where everything is within the warehouse, Guan explained.<\/p>\n<p>Chinese tech companies are increasingly under scrutiny abroad by regulators. From a \u201cbusiness perspective,\u201d Guan doesn\u2019t see how U.S.-China tensions could hobble the firm\u2019s U.S. expansion.<\/p>\n<p>\u201cThere are even fewer people available in the U.S., so robots are what logistics customers need in the U.S.,\u201d she said.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>ForwardX Robotics, a Beijing-headquartered company that makes autonomous mobile robots (AMR), said Tuesday it has closed the initial tranche of its Series C funding round as it looks to expand globally. The startup is fundraising for the rest of its Series C round at a time investors are courting warehousing and manufacturing robot makers in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12020],"tags":[25546,12544,25543,6618,4065,25542,25538,25539,24717,15247,25545,25544,16585,3642,3643,22928,1297,25541,11439,25537,6006,25540,2703],"dealstore":[],"offerexpiration":[],"class_list":["post-40357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5g-technology","tag-31m","tag-5g","tag-beijing","tag-china","tag-close","tag-e-commerce","tag-forwardx","tag-jd-com","tag-logistics","tag-oracle","tag-qualcomm","tag-qualcomm-ventures","tag-raises","tag-robot","tag-robotics","tag-semiconductor","tag-series","tag-series-c","tag-startup","tag-taikang-life-insurance","tag-tokyo","tag-venture-capital","tag-warehouse"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Warehouse robotics startup ForwardX raises $31M in first Series C close - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/accountants4yourbusiness.co.uk\/?p=40357\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warehouse robotics startup ForwardX raises $31M in first Series C close - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"ForwardX Robotics, a Beijing-headquartered company that makes autonomous mobile robots (AMR), said Tuesday it has closed the initial tranche of its Series C funding round as it looks to expand globally. 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