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. 

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. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Zhejiang Xinzailing Technology Hangzhou72 millionC++--IoT
b-ONEShanghai / New Jersery* 14 million-Taihu FundEight Roads, F-Prime CapitalHealth Tech
Mech-Mind RoboticsBeijing14 millionBSequoia Capital China-AI/Robotics
IngeekShanghai14 millionA+Beijing Chelianwang Industrial FundWalden InternationalCybersecurity
MinospaceBeijing14 millionA2BillionhomeNXROBOSpace Tech
KnowLeGeneBeijing14 millionB1JC CapitalChina Zhongji Investment, Lingfeng CapitalFintech
Shenzhen Hand Hitech Shenzhen11 millionA-Qianhai FOF, 01VC, Frees FundLogistics
EccangShenzhen10 millionAN5 CapitalZhenFundE-Commerce & Internet Economy
JoyskidBeijing--BE Capital-Ed Tech
Wuxi Shunxuan New MaterialWuxi--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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.