Warehouse robotics startup Syrius Robotics received $7M
The startup is backed by ByteDance, the creators of Tiktok
Syrius Robotics receives funding from investors amounting to $7.4 million
The Chinese startup makes autonomous robots for warehouses
AMR robots plan routes and react to circumstances around them
Syrius Robotics, a Chinese firm which develops autonomous warehouse robots, has just secured 50 million yuan ($7.4 million) in Series B, having thus raised $40 million in total capital.
The four-year old business focuses on autonomous mobile robots (AMR) as opposed to some of its rivals who provide automated guided vehicles (AGV). AMRs are essentially more advanced than AGVs since they can design routes and respond to situations in real time, as opposed to predetermined courses like AGVs can.
Harvest Capital, a Chinese investment company that specialises in innovations integrated into traditional sectors, is the only backer of its most recent round of funding. In August, Sirius raised $20 million in funding as part of its Series B round, with TikTok parent company ByteDance serving as the main investor. Sequoia Capital China also contributes to the startups funding.
In the past two years, during which time the COVID-19 pandemic and its control measures have left millions of workers stranded, China’s warehouse robots have become the darlings of investors. Casing handling robot manufacturer Hai Robotics, based in Shenzhen, revealed in September that it had deposited $200 million.
