Warehouse Robotics Startup ForwardX Raises $31m in First Series C Close
ForwardX Robotics, a Beijing-headquartered company that makes autonomous mobile robots (AMR), said Tuesday it has closed the initial tranche of its Series C funding round as it looks to expand globally.
The startup is fundraising for the rest of its Series C round at a time investors are courting warehousing and manufacturing robot makers in China, the company’s chief operating officer Yaxin Guan told TechCrunch during an interview.
The new investment lifted ForwardX’s total raise to about $100 million since Nicolas Chee, a former vice president at Oracle, founded the company in 2016. The startup declined to disclose its post-money valuation or how much it plans to rake in for the entire Series C.