VisionNav Robotics, the leader of vision guided industrial vehicles for material handling in China, announced that it has raised 100 million RMB in Series B1 funding. The round was led by Lenovo Capital, with participation from Flyfot Ventures and the existing investors Eastern Bell Capital.
The new capital will be used on R&D of visual control and perception technology, accelerating new product introduction to on-demanding industrial settings previously scheduled for 2021 and 2020, as well as support the company’s business growth and market expansion.
Founded in 2016, VisionNav Robotics is one of the forefront players in vision guided vehicles worldwide. VisionNav’s technology, which combines visual controls, perceptions and 5G technology into their vehicles, transforms standard industrial trucks into a new generation of automated facilities in manufacturing, warehousing and logistics industries known as vision guided vehicles (VGVs). They resemble standard forklift trucks but working completely automatically because they come equipped with cameras, AI and sophisticated algorithms to navigate in dynamic environments and transport goods to and from loading docks, warehouses, production lines and other industrial settings.
“When considering warehousing automation, customers always seek for quick deployment, high operation efficiency and short payback period,” said Li Luyang, CEO and cofounder of VisionNav Robotics. Vision guided vehicle is a versatile and cost-effective solution for different logistics nodes, such as logistic parks, logistics warehouses, manufacturing warehouses, workshops, factories, intralogistics within the airports and habors. “The same vehicle can do many different jobs such as loading and unloading, picking and put-away, storage and relocation, reducing initial investment and saving operating and maintenance cost.”
VisionNav’s solution is not only about the vehicles, although there are already 5 series of autonomous vehicles including pallet movers, pallet stackers, reach trucks, towing trucks and combustion trucks. It also includes robot control system for the integration with multiple-level system, and goods position detection system for multi-object identification. The solution helps customers from different industries to manage their process in multiple dimensions. Many of VisionNav’s customers are from factory logistics (automobile manufacturing, 3C, food and pharmaceutical, etc.) and warehousing logistics (e-commerce, retail, 3PL, aviation, etc.), such as Amway, Walmart, DHL, Cainiao, Gree, etc.
When it comes to company’s future growth, Li Luyang express his ambition to play on the international stage. “We will take Southeast-Asia as our first target market, then gradually expand our footprints to Europe and America. It’s just a massive worldwide market with significant growth.”