Yueshi closes US$14m pre-Series A round, to hasten growth in cold chain robotics

Yueshi is one of dozens of robot and forklift producers at home to bet on the digital transition of the nation's sprawling cold chain industry.

Yueshi Robot (粤十机器人), a cold chain robotics manufacturer, has raised close to 100 million yuan (US$13.94 million) from a pre-Series A round of funding, ITjuzi.com, a deal-tracking website reported today.

The round was by led by Beijing Shunchuang Industry Investment, with the proceeds expected to go to innovations in automated cold chain and storage.

As a strategic investor, Shunchuang will also support Yueshi Robot to advance its growth in AI and smart manufacturing.

The latest pre-Series raise came hot on the heels of three equity financing transactions that the Guangdong-based builder of driverless forklift had completed in the space of two months from October to December 2023.

Yueshi is one of dozens of robot and forklift producers at home to bet on the digital transition of the nation’s sprawling cold chain industry.

As the sector gains momentum, thanks to higher consumption of fresh produce and frozen food, cold storage warehouse operators are demanding more robots to substitute human employees, to insulate them from the harsh working conditions.

Yueshi supplies warehouses not just with unmanned forklifts, but also cloud-based management software to optimize supply chain efficiency.

It claims to have leveraged AI, environmental perception, deep learning and servo motor control, among other technologies, to expand its footprint in the market.

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Ni Tao

Ni Tao is the founder and editor-in-chief of cnrobopedia. Prior to cnrobopedia, he had a full decade of experience with a major state-run English-language newspaper as a tech reporter and opinion writer. He is also a communications specialist, having provided consultancy services to established firms like Siemens, Philips, ABinBev, Diageo, Trip.com Group (Nasdaq: TCOM, HK: 9961), Jianpu Technology (NYSE: JT) and a handful of domestic startups. A graduate of Fudan University, he writes widely about China's business and tech scenes and other topics for global publications including South China Morning Post, SupChina, The Diplomat, CGTN, Banking Technology, among others, and tries to impart his experience to students at Fudan University Journalism School, where he is a part-time lecturer. When he's not writing about robotics, you can expect him to be on his beloved Yanagisawa saxophones, trying to play some jazz riffs, often in vain and occasionally against the protests of an angry neighbor. Get in touch with him by dropping a line at nitao0927@gmail.com.

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