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