VisionNav Robotics closes $80M for AGVs

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VisionNav gives a line of autonomous forklifts with a wide range of options, together with excessive rack storage and slim aisle entry. | Supply: VisionNav Robotics

VisionNav Robotics, a Shenzhen, China-based firm that develops logistics robots, raised greater than $80 million in Sequence C+ funding. VisionNav is dedicated to offering automated materials dealing with methods with visible synthetic intelligence navigation expertise. 

VisionNav’s automated guided autos (AGVs) embrace forklifts, indoor and out of doors tractors and BrightEye, its sensible AGV system. Its line of autonomous forklifts embrace choices reminiscent of 9.4 meter excessive rack storage, 2-meter slim aisle entry, unmanned loading and unloading and multi-layer cell materials body stacking. The corporate has delivered greater than 1,500 autonomous forklifts and tractors as a part of over 350 particular person initiatives. 

Metituan, a Chinese language meals supply platform, and 5Y Capital, a Chinese language enterprise capital agency, led the funding spherical. VisionNav plans to make use of the latest spherical of funding to analysis and develop, optimize product efficiency, enhance stability and standardization in its merchandise and promote large-scale implementation. 

Luyang Li, co-founder and CEO of VisionNav, stated that the corporate’s gross sales grew tenfold between 2019 and 2021, and the corporate expects gross sales to proceed to develop. In 2022, it estimates gross sales to surge by 300%, with the typical order quantity growing by 350%. The corporate has loads of room to develop in a quickly increasing Chinese language robotics trade.

The nation not too long ago unveiled its newest five-year plan for robotics, which laid out targets for the Chinese language robotics trade to achieve earlier than 2025. These targets included strengthening industrial innovation capabilities and growing the availability of excessive finish merchandise. In 2020, China was the eighth most automated nation on the planet, a big bounce from being twenty fifth in 2015.   

VisionNav was based in 2016 by Yunhui Liu, now the chairman, Mu Fang, now the CTO, Yujie Lu, now the CRO and Li, a crew of graduates from the College of Hong Kong and the College of Tokyo. Since its founding the corporate has introduced in additional than $97 million in funding.