China Deal Monitor: Mech-Mind Robotics bags over $14m and more updates

China Deal Monitor: Mech-Mind Robotics bags over $14m and more updates

Chinese industrial robot developer Mech-Mind Robotics has raised over 100 million yuan ($14 million) in a Series B round of financing led by Sequoia Capital China, according to a company statement on Monday. 

Chinese Qiji Capital acted as the financial advisor. 

Prior to this round, the company received a strategic investment from Intel Capital, the VC arm of Intel Corporation, in August 2019. 

Established in 2016, Mech-Mind offers industrial robots to manage efficiency mainly in bin picking and machine tending for logistics and manufacturing industries. 

With more than 150 employees, Mech-Mind has served over 100 clients across seven countries. It will use the proceeds to enhance robot development and customer support.

In April 2019, Mech-Mind completed its 100 million yuan ($14 million) Series A+ round of funding led by China’s Qiming Venture Partners. Previously, it also secured investments from tech-focused investment firm Delian Capital, Galileo Venture, China Growth Capital and a pre-angel round in 2017 and 2015, respectively. 


DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 2, 2020. 

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter