Industrial robot developer Mech-Mind Robotics has garnered nearly 100 million yuan ($15 million) in a Series B+ round funding from Source Code Capital and returning backer Sequoia Capital China, the former investor announced on Monday.
Sequoia Capital China had led a 100 million yuan ($15 million) Series B round in Mech-Mind Robotics in March 2020.
With over 250 professionals in China and Munich, the four-year-old startup is set to develop industrial robots that primarily cater to logistics and manufacturing industries.
Driven by new generation technologies such as deep learning, 3D vision, and motion planning, it has delivered advanced solutions including machine tending for a large automobile part plant, wheel assembly for a large original equipment manufacturer (OEM), and gluing for a large furniture factory.
Mech-Mind Robotics is also backed by Intel Capital, Qiming Venture Partners, Delian Capital, Galileo Venture, and PreAngel.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on November 13-17, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|XAG||Guangzhou||182 million||-||Baidu Capital, SoftBank Vision Fund 2||Sinovation Ventures, Guangzhou Yuexiu Industrial Fund Management, Guangzhou Emerging Industry Development Fund||Robotics & Drones|
|Hefu-Noodle||Rugao||68 million||D||Tencent, Longfor Capital||Meridian Capital||N/A|
|Zilliz||Shanghai||43 million||B||GL Ventures||TrustBridge Capital, Pavilion Capital, 5Y Capital, Yunqi Capital||AI and Machine Learning|
|Gene+||Beijing||38 million||B+||Aier Eye Hospital||Wisdomont, Sharewin Capital, Highlight Capital||Biotech|
|Beijing Memblaze Technology||Beijing||30 million||D||SoftBank Ventures Asia||Toyou Feiji Electronics||Big Data|
|Pregene||Shenzhen||21 million||B||Haier Biomedical||Huapont Life Sciences, Hunana Jiankang Yanglao Investment||HealthTech|
|Huiyi Huiying||Beijing||* 15 million||C2||-||Shougang Fund, Sinopharm Junbo, Kunjian Xintai, CDH Investments, Delta Capital, Bluerun Ventures||HealthTech|
|Jiangsu B.H.Med Technology||Wuxi||* 15 million||B||TF Capital, GL Ventures, Legend Capital||Taiyu Capital, Proxima Ventures||HealthTech|
|Particle Fever||Shanghai||15 million||C||-||GL Ventures||Fitness & Wellness|
|ArrayComm||Xiamen||15 million||A||Vertex Ventures China||-||Infrastructure|
|Mech-Mind Robotics||Beijing/Shanghai||15 million||B+||-||Source Code Capital, Sequoia Capital China, Cash Capital||Robotics & Drones|
|VeSoft||Hangzhou||10 million||Pre-A+||Source Code Capital||Sinovation Ventures, Guangzhou Yuexiu Industrial Fund Management, Guangzhou Emerging Industry Development Fund||Big Data|
|Dexin Optoelectronic Server||Xiamen||-||Strategic Investment||-||Xingwang Investment||N/A|
|GalaxySpace||Beijing||-||-||Nantong Smart Manufacturing Investment Fund||Chaos Investment, MatrixPartners China, CICC Infrastructure Fund, Shunwei Capital, 5Y Capital, Legend Capital, Source Code Capital||Infrastructure|
|Zhongsheng Kangyuan||Beijing||-||A||Hemeng Caital's sub-fund||Hongke Fund, Sichuan Leimerious Capital, Gongqingcheng Pengbo Investment||HealthTech|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “100 million yuan ($15 million)” in the given example.