China Deal Monitor: Mech-Mind Robotics bags over $14m and more updates

China Deal Monitor: Mech-Mind Robotics bags over $14m and more updates

Chinese industrial robot developer Mech-Mind Robotics has raised over 100 million yuan ($14 million) in a Series B round of financing led by Sequoia Capital China, according to a company statement on Monday. 

Chinese Qiji Capital acted as the financial advisor. 

Prior to this round, the company received a strategic investment from Intel Capital, the VC arm of Intel Corporation, in August 2019. 

Established in 2016, Mech-Mind offers industrial robots to manage efficiency mainly in bin picking and machine tending for logistics and manufacturing industries. 

With more than 150 employees, Mech-Mind has served over 100 clients across seven countries. It will use the proceeds to enhance robot development and customer support.

In April 2019, Mech-Mind completed its 100 million yuan ($14 million) Series A+ round of funding led by China’s Qiming Venture Partners. Previously, it also secured investments from tech-focused investment firm Delian Capital, Galileo Venture, China Growth Capital and a pre-angel round in 2017 and 2015, respectively. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 2, 2020.