Blue Ocean Automation (蓝海自动化), a startup specializing in automated guided vehicle (AGV) technologies, has secured over 100 million yuan (US$13.70 million) from a Series C round of funding, the company announced yesterday.
The fundraiser was led by the corporate venture capital arm of Matrix Design, a listed industrial company, with participation from Hangzhou Yuanning Yixin Fund and Anji Ruixi Capital.
Proceeds from the latest fundraising will be sunken into new product R&D, business exploration and productivity increases.
The Guangzhou-based firm designs and develops AGVs, rail guided vehicle (RGV) and automated warehousing systems. It assists clients with material handling tasks thanks to its suite of autonomous vehicles and supporting control systems.
cnrobopedia reported in late May that the company received tens of millions of yuan in a Series B round of financing.
By the time of Series B, Blue Ocean Automation had extended its product line to comprise AMR, smart warehouse storage, and manufacturing execution system (MES), mobile shelf and cleaning robot products.