Quicktron Intelligent Technology, a Chinese provider of warehouse robot solutions, has secured over $100 million in a Series D round of financing to fuel its global expansion.
Shanghai-headquartered Quicktron raised the fresh capital from Taiwanese property development and construction firm Farglory Group and a few investment firms in mainland China, including Wuxi Liangxi Tech Innovation Industry Investment Fund and Golden Dujuan Capital, the startup announced in its latest WeChat post.
The Series D round came roughly four years after the startup closed about $100 million in a Series C+ round jointly led by German warehouse equipment provider Kion Group; and Prosperity7 Ventures, a venture capital (VC) fund of Aramco Ventures. The deal was Prosperity7’s first direct investment in China.
Founded in 2014, Quicktron is an intralogistics automation company providing autonomous mobile robots and other automation solutions to corporate clients across industries like e-commerce, manufacturing, retail, and third-party logistics.
Its Chinese clients include e-commerce giant JD.com, Alibaba Group-backed logistics firm Cainiao, online discount sales website VIP.com, Hillhouse-backed pharmacy chain operator Cowell Health, and sportswear brand Erke. Outside of China, the startup has sold its products and solutions to various countries and regions including Europe, the Americas, Japan, South Korea, Australia, and Southeast Asia.
The proceeds will enable Quicktron to further its global expansion by growing the overseas team, strengthening cooperation with partners, and providing customised services through a better understanding of clients across different markets, said the startup.
Its official website shows that the startup has accumulated over 1,000 clients across more than 20 countries.
Additionally, Quicktron plans to continue improving its suite of warehouse robots and automation solutions for enhanced product stability and a better user experience.
In March 2017, Quicktron raised nearly 200 million yuan ($30.6 million) in a Series B round from Cainiao; and SoftBank China Venture Capital, SoftBank’s China-focused VC arm.
