VisionNav Robotics, the China-based firm committed to developing autonomous driving technology for industrial vehicles, has reportedly raised USD 14.13 million in B1 financing round, which was led by Lenovo Capital.
According to sources familiar with the knowledge of the matter, the company will use this funding to accelerate R&D activities to improve visual control and perception technology, expanding business, and breakthrough of demanding scenes applications. The other investors in the funding round include Flyfot Ventures, and Eastern Bell Capital.
The past few years have been witnessing increasing demand for smart warehousing and automatic storage solutions. Since its inception in 2016, VisionNav Robotics has been providing visual-based driverless technology solutions to customers. By leveraging visual control, perception, and 5G technologies, the company is delivering intelligent, flexible, reusable, and cost-effective material handling solutions in logistic links like unloading, loading, storage, and distribution.
Commenting on the future of automation across several industries, LI Luyang who is the CEO at VisionNav Robotics said that in the upcoming time, businesses would make more efforts to improve permeability ratio of automated industrial vehicles in rigid scenarios, and to deploy robots in foreign markets which will center on Hong Kong, China, traverse across East Asia, Middle East, and finally reach America and Europe.
About VisionNav Robotics
For the record, China-based VisionNav Robotics is offering automatic warehouse solutions to its end consumers. The company’s solutions mainly include automated guided forklifts, industrial vehicle transformation services, central control dispatching system, and the location detection systems.
These products are extensively used in intralogistics (i.e. 3C, automobile, food, and drug) and warehouse logistics (i.e. retail, e-commerce, aviation, 3PL). Till now, the company delivered its services to leading enterprises including Fortune Global 500 and deploy solutions in more than 50 project sites.
Source Credit – https://www.businesswire.com/news/home/20200621005021/en/VisionNav-Robotics-Embraces-RMB100.00-million-B1-Financing