ForwardX this week announced additional funding of $30 million, bringing the Beijing-based firm’s Series C to $61 million. Funding follows an announced initial tranche around December 2021. Brings total funding for warehouse robotics company to $140 million since its launch in 2016.
The past few years have been a great time to run an autonomous mobile robotics (AMR) company, of course. The early days kicked things into high gear for companies looking to automate, and venture capital has followed suit. Even after most geographies have reopened, many factors have continued to drive adoption from the supply chain crisis to labor shortages.
“Our success in securing this funding reflects the positive momentum we have built over the past few years,” Chief Executive Officer Nicolas Chee said in a statement. “ForwardX Robotics has experienced substantial growth in key markets and we are excited to expand our footprint globally.
For its part, ForwardX already boasts an impressive list of clients, including L’Oréal, IKEA, SF DHL, UNIQLO, Walmart, and Mitsubishi. Those are the kinds of names that keep venture capitalists interested. In all, the company says it has deployed some 3,000 robots at 150 sites on four continents. It is currently looking for further expansion into the North American, European, Asian, and Australian markets.
Warehouse, logistics, and manufacturing are the main objectives of the company’s ARMs. Unlike much of the competition, which has delved into honing a single task, ForwardX has quickly diversified its portfolio of robots, with systems that transport, store, pick up, and dock. These are maintained by proprietary fleet management software. It’s effectively a brownfield solution for companies looking to automate various process steps with robots that can work in concert with each other.
There are many different approaches in the space today. There is still surprisingly limited penetration of automated systems in warehouses, so there is plenty of room for a number of different solutions to thrive.
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ForwardX this week announced additional funding of $30 million, bringing the Beijing-based firm’s Series C to $61 million. Funding follows an announced initial tranche around December 2021. Brings total funding for warehouse robotics company to $140 million since its launch in 2016.
The past few years have been a great time to run an autonomous mobile robotics (AMR) company, of course. The early days kicked things into high gear for companies looking to automate, and venture capital has followed suit. Even after most geographies have reopened, many factors have continued to drive adoption from the supply chain crisis to labor shortages.
“Our success in securing this funding reflects the positive momentum we have built over the past few years,” Chief Executive Officer Nicolas Chee said in a statement. “ForwardX Robotics has experienced substantial growth in key markets and we are excited to expand our footprint globally.
For its part, ForwardX already boasts an impressive list of clients, including L’Oréal, IKEA, SF DHL, UNIQLO, Walmart and Mitsubishi. Those are the kinds of names that keep venture capitalists interested. In all, the company says it has deployed some 3,000 robots at 150 sites on four continents. It is currently looking for further expansion into the North American, European, Asian and Australian markets.
Warehouse, logistics and manufacturing are the main objectives of the company’s ARMs. Unlike much of the competition, which has delved into honing a single task, ForwardX has quickly diversified its portfolio of robots, with systems that transport, store, pick up and dock. These are maintained by proprietary fleet management software. It’s effectively a brownfield solution for companies looking to automate various process steps with robots that can work in concert with each other.
There are many different approaches in the space today. There is still surprisingly limited penetration of automated systems in warehouses, so there is plenty of room for a number of different solutions to thrive.
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