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.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 2, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Zhejiang Xinzailing Technology||Hangzhou||72 million||C++||-||-||IoT|
|b-ONE||Shanghai / New Jersery||* 14 million||-||Taihu Fund||Eight Roads, F-Prime Capital||Health Tech|
|Mech-Mind Robotics||Beijing||14 million||B||Sequoia Capital China||-||AI/Robotics|
|Ingeek||Shanghai||14 million||A+||Beijing Chelianwang Industrial Fund||Walden International||Cybersecurity|
|Minospace||Beijing||14 million||A2||Billionhome||NXROBO||Space Tech|
|KnowLeGene||Beijing||14 million||B1||JC Capital||China Zhongji Investment, Lingfeng Capital||Fintech|
|Shenzhen Hand Hitech||Shenzhen||11 million||A||-||Qianhai FOF, 01VC, Frees Fund||Logistics|
|Eccang||Shenzhen||10 million||A||N5 Capital||ZhenFund||E-Commerce & Internet Economy|
|Joyskid||Beijing||-||-||BE Capital||-||Ed Tech|
|Wuxi Shunxuan New Material||Wuxi||-||-||Addor Capital||-||Consumer & Brands|
* indicates that the company did not provide the specific size of the deal but only a range, such as “hundred millions of yuan.” In this case, we adopt the smallest number in the range, which is “100 million yuan ($14 million)” in the given example.