China's Geek raises $150M to build robots for warehouses and logistics

Geek Plus says that this is the largest-ever funding round for a logistics robotics startup. The round, a Series B, was led by Warburg Pincus, with participation from other shareholders including Volcanics Venture and Vertex Ventures. The company is not disclosing its valuation but we have asked and will update as we learn more. Warburg Pincus led the startup's previous round of $60 million in 2017, and Geek Plus has raised around $217 million since being founded in 2015. Part of the reason for this large round is because the company says its on track for a big year, projecting to growth business five-fold, and it wants to capitalise on that growth both inside its own giant home market of Mainland China as well as further afield.