HAI Robotics, which makes autonomous case-handling robots, or ACRs, for logistics and industrial automation, this month announced a Series B+ funding round of nearly $15 million (U.S.) led by 5Y Capital, with participation from existing investors Source Code Capital and Walden International. According to the company, the capital will fuel its research and development, operational capabilities, and business expansion.
Warehouse automation can enable fast, safe, and error-free distribution, as well as shorter time to market, and it is about to make an enormous impact on logistics and supply chain operations, said the Shenzhen, China-based company.
“With an increasingly aging population worldwide, automation is the future of warehousing,” stated Richie Chen, founder and CEO of HAI Robotics. “However, many warehouses still haven't adopted automation. Many warehouse automation solutions fail to meet the requirements of customers, such as short construction time, low cost, high storage capacity, and high efficiency, and HAI Robotics helps to optimize these crucial requirements.”
Founded in 2016, HAI Rrobotics said it is committed to providing efficient, intelligent, flexible, and customized warehouse automation through advanced robotics technology and AI algorithms. The company developed HAIPICK, its first ACR system, in 2015 and put it into commercial operation in 2018.
Robots handle cases autonomously
HAIPICK uses ACRs to store and retrieve up to eight cases at a time in tall, narrow storage aisles. This dense storage configuration can enable operations to reduce square-footage dedicated to storage, according to HAI Robotics. Once cases are retrieved, the robots work in a goods-to-person framework, moving inventory into position to fuel order fulfillment and other logistics processes.
By using the HAIPICK system, customers can realize warehouse automation transformation in a week, increase storage density by 80% to 130%, and improve operational efficiency by three to four times, claimed HAI Robotics.
HAI Robotics added that it is continuing to conduct research and development to perfect its products and expand its customer portfolio. Last year, it launched the world’s first double-deep ACR, carton-picking ACR, telescopic lift ACR, and laser simultaneous localization and mapping (SLAM) ACR.
The company also said it created the HAIPORT automatic case-loading port to address warehouse needs and cater to dynamic business changes.
HAIPICK applied in multiple projects
In the past year, HAIPICK has been applied in third-party logistics (3PL), apparel, e-commerce, electronics, energy, manufacturing, pharmaceutical, and other industries. HAI Robotics recently partnered with Material Handling Systems (MHS) to provide its systems to distribution centers and fulfillment facilities.
“We have deployed over 90 projects and gained the trust of many of our customers who continue working with us in new projects,” said Richie Chen. “HAIPICK ACR solution offers several advantages in storage capacity, delivery efficiency, flexibility, and stability, and it is a comprehensively cost-effective solution for customers.”
“HAI Robotics focuses on ACR technologies and has a unique ability to innovate continuously. It defined a new category of warehouse robotics, invented the cases-to-person operation system, and laid a solid foundation for the future of fully unmanned warehouses,” said Peter Chen, vice president at 5Y Capital. “We are very optimistic that HAI Robotics will grow rapidly into a leading company globally in the field of intelligent warehousing as an industry innovator.”
About 5Y Capital
5Y Capital, formerly known as Morningside Venture Capital, is one of China’s earliest early-stage venture investors, with billions of dollars under management including USD and RMB funds. It also manages sovereign wealth funds, family offices, funds of funds, and university endowments. 5Y said it discovers, supports, and encourages entrepreneurs, providing not only insight and industry experience, but also operational support.
5Y Capital's investment portfolio includes Ctrip.com, YY, Xiaomi Corp., Kingsoft Office, Agora, Xiaopeng Motors, Kuaishou, We Doctor Group, SenseTime, and Pony.ai.
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