Temasek-backed Vertex Venture Holdings has led a series A+ funding round in logistics robot developer Geek+ while Qiming Venture has invested in series B round of VR headset maker Hypereal.
Vertex leads $14m round in Chinese logistic robot firm
Vertex Venture Holdings, a venture capital subsidiary of Singapore’s Temasek Holdings, has led a RMB100 million ($14 million) series A+ round in Beijing-based intelligent logistics robot developer Geek+, according to a report in China Money Network.
Last May, the Chinese firm secured RMB50 million ($14 million) from Banyan Capital and Volcanic Stone Investment, who also joined this new round.
The company claims that over 300 robots are used in China including Suning Commerce Group and Alibaba’s e-commerce firm Tmall. The proceeds from the latest round will be injected for research and development and business expansion.
Qiming Venture leads series B in Chinese VR headset maker
Hypereal had secured tens of millions US dollars from SIG in 2015 before launching its first VR headset product Pano in 2016, according to a report on China Money Network.
“Visual reality and augmented reality industry is one the most promising industries in the next ten years. The experience which was brought by visual reality is unique,” said Ye Guanqin, a partner at Qiming Ventures. “We think Hypereal is one of a few companies that have the ability to develop both software and hardware. We are confident with the future of the company.”
The report also cited that there were total 36 deals raising $1.2 billion from China-based investors in VR and AR industry last year. The deals included CITIC Capital’s investment in a $35 million series B round of another VR headset producer Baofeng Mojing.