Rice Robotics and ForwardX Robotics have secured funding to fuel their expansion plans.
Rice Robotics bags $7m in pre-Series A round
Hong Kong-based service robots maker Rice Robotics has secured $7 million in a pre-Series A financing round to prepare for its Japanese market expansion, the company said on Monday.
The firm, which develops robots for indoor delivery, disinfection, security and patrol, did not disclose the investor details.
The firm’s production plant in Hong Kong commenced operations in Q1 this year. The firm will use the proceeds for its production plant as well as to bolster its manufacturing and supply chain capabilities.
The firm’s new manufacturing facility will help to quadruple its annual production capability.
Founded in 2019, Rice’s robots differentiate itself through the ability to operate elevators and turnstiles in order to deliver items to different floors, and other features like crowd navigation. The firm has partnerships with several Japanese clients including Softbank, Japan Post, Mitsui Group, and Toyota Motor Corporation.
ForwardX Robotics bags $27.6m in extended Series C round
ForwardX Robotics, which offers person-to-goods autonomous mobile robot (AMR) solutions, has secured 200 million yuan ($27.6 million) in an extended Series C round.
The firm will use the proceeds in R&D and overseas market expansion, among others.
The round, joined by several state-affiliated investors including Anhui State-owned Capital Operation Holding Group, Hefei Hi-tech VC, and Hefei Industry Investment Holding, has brought the firm’s total capital raised in the Series C round to 650 million yuan ($89.4 million), according to a company release on July 12.
Founded in 2016, the Beijing-based firm has offices in the US and Japan. ForwardX’s ARM solutions are used for order picking in warehouses, in-store order picking, and material handling in manufacturing plants. Previously, it garnered 200 million yuan ($30 million) in a Series C financing round in December 2021.