Capital Today leads $100m round for China's Hai Robotics
Hai Robotics, a China-based warehouse robot company, has raised an extended Series D round of USD100m led by Capital Today China Group.
Existing investors 5Y Capital, Source Code Capital, Sequoia Capital China, and 01vc also participated alongside an undisclosed US dollar-denominated fund. The proceeds will support R&D for a warehouse robot system and a global expansion.
Hai raised about USD 200m last year through its Series C and D rounds. 5Y led the Series C with participation from Sequoia China, Source Code, VMS, Walden International, and Scheme Capital. Capital Today took the lead in the Series D, with Sequoia, 5Y, Source Code, Legend Star, and 01VC also contributing capital.
5Y led a USD 15m Series B extension in March 2021 with support from Source Code and Walden. The company raised USD 14.7m across its Series A and B rounds, which closed in 2019 and 2020, respectively. Source Code led the Series B with participation from Walden and 01VC. Walden and Alibaba Group-backed logistics player Best provided the Series A.
Hai launched Haipick, touted as the world’s first autonomous case-handling robotics (ACR) system, in 2015. The company claims its robots differ from competitors in that they can carry cartons as well as individual totes and bring multiple cases to pickers or conveyors in one movement. They can reach shelves up to seven meters in height and carry up to eight loads at once.
Hai runs more than 500 projects globally. It has service and operation network in more than 30 countries and claims the largest share in the ACR robot market. Warehouse automation can be achieved in one week, leading to an 80% to 130% increase in storage density and up to a fourfold increase in human working efficiency, according to the company.
Hai’s factory in Dongguan has an annual production capacity of 10,000 robots and more than 1,600 staff, most of whom are engineers. The company holds 1,100 global patents. Its customers are based in 30 territories, with DHL, SF Express, Philips, Li & Fung, and China National Pharmaceutical Group among the larger names.
The best-funded company in China’s warehouse robot space is Geek+, which claims to be the leading global supplier of autonomous mobile robots and the only one covering all robotics categories and scenarios in warehousing and factory environments.
The likes of XYZ Robotics and Mech-Mind Robotics – both specialists in “bin picking,” which refers to a robot’s ability to use sensors and cameras to identify and then retrieve specific objects positioned at random in a bin – have also received funding. Capital Today, 5Y and Source Code are investors in XYZ.
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