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Startups

Chinese startup Geek+ to raise $150m in warehouse robotics race

Tech unicorn eager to expand automation services but faces stiff competition

Geek+ robots shuttling at a warehouse in Kunshan, China. (Photo courtesy of Geek+)

NEW YORK -- Beijing-based logistics robotics startup Geek+ is on track to raise over $150 million in its Series C1 financing as it looks to bring automation to warehouses worldwide, the company said Wednesday.

Founded in 2015, Geek+ produces robots that can sort and transport goods at warehouses, while navigating a massive number of stock keeping units, which are codes used to track inventories and sales. Such tasks have become a headache for retailers facing the growing diversity of products in their inventory in the e-commerce age.

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