AAA Galaxis gathers series D funding

Galaxis gathers series D funding

China-based robotics technology developer Galaxis Technology, has raised an eight-figure dollar amount in a series D round featuring steel producer Huaxi Group’s V-Capital vehicle, DealStreetAsia reported yesterday.

The round was led by CICC Capital, a subsidiary of investment banking group China International Capital Corporation, and included financial services firm Industrial Bank, Sumin Investment, SinoKing Capital, Huagai Capital and Orize Prior, a division of fund manager Oriza Holdings.

Galaxis produces robotics systems for use in logistics operations such as the collection, storage and distribution of goods. The series D proceeds will go to research and development, scaling its manufacturing capacity and expanding internationally.

The company had already received about $1.6m from Delta Capital in 2014, an undisclosed sum from Delta and Summitview Capital in mid-2018 and $29.2m in series C funding from logistics services firm SF Express, Yicun Capital and Yuanhe Holdings in November 2018.

By Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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