Blue Ocean Robot completed its Series A and A+ financing round worth tens of millions of CNY, led by GLVentures. The company is a high-tech enterprise specializing in the design, system integration, project implementation, after-sales service of automated guided vehicle (AGV) and rail guided vehicle (RGV), and automated storage systems.
Guangzhou Blue Ocean Robot (Chinese: 广州蓝海机器人), a provider of mobile robots and intelligent systems, announced its Series A and A+ funding round worth tens of millions of CNY today, led by GLVentures, with participation by Longsheng Jiye, news portal 36kr.com reported.
This round of financing will be mainly used to expand customers and develop new products. Before this round, Haimuxing Laser Technology (688559. SH) participated in Blue Ocean Robot’s angel round.
Xu Wenbin, the founder and CEO of Blue Ocean Robot, said that the company continues to invest R&D resources in multiple cross-technology fields and intelligent logistics systems, including positioning and navigation algorithms, scheduling algorithms, industrial management informatization, machine vision, embedded control technology, and electromechanical system design.
The company generated tens of millions of CNY in total revenue in 2021, and the orders have exceeded 100 million by today. Its clients include Canadian Solar (NASDAQ: CSIQ), Jolywood (300393. SH), Longheng, LONGi (601012. SH), and other companies, Xu added.
The three key missions of Blue Ocean Robot in 2022 are expanding customers in the lithium battery industry, exploring logistics-related needs in other high-end manufacturing industries such as semiconductors, and investing in the R&D of next-generation 3D navigation systems and 3D visual navigation robot products.
According to the statistics of the New Strategic Mobile Robot Industry Research Institute, there were 72,000 industrial application mobile robots (AGV/AMR) in the Chinese market in 2021, and the market sales reached CNY 12.6 billion (USD 1.889 billion), 64% higher than the previous year.
In this field, there are listed companies such as S.C New Energy (300724. SH), Lead Intelligent (300450. SH), and Roberto (300757. SH), as well as start-up companies such as Geek+ (Chinese: 极智嘉), Quicktron (Chinese: 快仓), Blue Ocean Robot, and VisionNav Robotics (Chinese: 未来机器人).