China-based warehouse robotics technology developer Hai Robotics announced yesterday it has received over $200m across series C and D rounds, the latter featuring conglomerate Legend Holdings’ Legend Star unit.
Venture capital firm 5Y Capital led a series C round of undisclosed size that closed at an unspecified date, investing alongside Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital.
Private equity firm Capital Today meanwhile led the series D round, whcich was closed this year. Its participants were filled out by Legend Star, Sequoia Capital China, 5Y Capital, Source Code Capital and 01VC.
Founded in 2016, Hai Robotics is developing a box-picking robot system intended for handling and sorting of warehouse goods. The cash will help improve its technologies, increase global network, enhance supply chain management, boost headcount and ramp up its product offerings.
5Y Capital had led a $15.4m series B-plus round for Hai Robotics in March 2021 featuring Source Code and Walden, six months after a series B round led by Source Code and backed by Walden and 01VC that lifted its total funding to over $14.7m. Courier service Best Logistics and Walden had supplied an undisclosed amount of series A funding in 2019.
