Shanghai Mooe Robots Technology Co., Ltd. (“Mooe Robots”) recently has announced the completion of hundred millions of CNY in Series B2 funding.
Mooe Robots is focusing on the research and development, design, production, and sales of Automated Guided Vehicles (AGVs), aim to create AGVs in the intelligent manufacturing industry. Mooe Robots has achieved the combination of autonomous driving technology and materials carrying technology, helping customers optimize management.
According to Mooe Robots，the company takes ‘digital management system + group intelligent transportation’ as its operating model. AGVs provide indoor and outdoor transportation services while completing data analysis and processing, providing customers with complete solutions, promoting digital upgrading for warehouses and empowering digital transformation for enterprises.
According to GGII, China's AGVs market size was CNY 415 million in 2017, it reached CNY 2.26 billion in 2022, with a rapid growth rate. The catalysis of the COVID-19, the increase in labor costs, and the outbreak of the new energy industry are the main driving forces for the growth of AGVs market.
In addition to Mooe Robots, many companies are competing in the AGVs market, such as VisionNav (未来机器人), Standard Robots (斯坦德机器人), Hangcha Intelligence (杭叉智能), HELI (合力叉车) in China, Mitsubishi in Japan, Scott Transbotics in New Zealand, Jungheinrich, BHS Corrugated in Germany, and DS Automotion GmbH in Austria.
Hui Li, manager of China Securities, stated: " Mooe Robots is one of the first company in the logistics express industry to produce nearly 100 AGVs, it has the leading cluster scheduling capability in complex environments. China Securities wishes Mooe Robots to seize industry development opportunities, assist in the development of express logistics and industrial customers.”
This round of financing for Mooe Robots was exclusively invested by China Securities (中信建投), with follow-on investments from Xunshang Entrepreneurship (湖州浔商创业). This round of financing funds will mainly be used for new product research and development, overseas market development, and talent team expansion.