Mining Robot Company EasyMove Nets more than 100 Mn in Series A

Industrials, Technology Author: Yunfeng Zhang Mar 22, 2023 05:58 PM (GMT+8)

With the rapid development of the new energy industry, the industry's demand for metal ore is growing. In the past, this market was dominated by 40-tonne road trucks, but in recent years this market has been rapidly replaced by wide-body dump trucks.


Founded in 2021, EasyMove(Chinese: 铱钼科技), a large-scale new energy intelligent mining truck company, has completed a Series A financing round of over CNY100 million, led by its old shareholder Vertex Ventures(Chinese: 祥峰投资) and followed by ZJ Orient(Chinese: 东方嘉富). Insight & Reliability Capital(Chinese: 一苇资本) acted as the exclusive financial advisor for this round of financing. Proceeds from this round will be used for the development of Iridium Molybdenum's large intelligent mining truck chassis, control system and intelligent system, as well as the development, manufacturing and testing of EM165 and EM185.

EasyMove is a new energy intelligent construction machinery company providing large new energy intelligent construction machinery products and transportation services to global mining customers. The company's main products are large new energy intelligent mining trucks, which can be applied to mines, ports, large projects and other non-road closed transport scenarios.

In the first half of 2022, EasyMove announced an angel round financing of tens of millions of RMB, and independently developed the first purely localized 200-ton giant intelligent mining truck EM200, breaking the technology monopoly of foreign industry giants on high-end products, while the products of domestic counterparts mainly focus on wide-body dump trucks under 105 tons.

Large scale, electrification and unmanned are the development trend of mining dump truck, and the industry enterprises have certain development in these three aspects at present. easyMove focuses on "large scale" and "electrification", through new energy and intelligent means, to achieve the breakthrough and transformation of massification and electrification.

At present, the company has successfully completed the industrial test of the EM200 prototype in Inner Mongolia mine; EM165 and EM185 have completed the design after verification and iteration, and are being produced and assembled in the company's own production base in Suizhou, and will go to the Inner Mongolia mine for industrial test after completing the pre-factory commissioning.

EasyMove's competitors include SANY(Chinese: 三一重工), TONLY(Chinese: 同力重工) and Weichai(Chinese: 潍柴特).