China-based computer vision-guided forklift developer VisionNav Robotic closed a RMB100m ($14.2m) series B1 round yesterday led by Lenovo Capital, a strategic investment vehicle for electronics manufacturer Lenovo.

The round also featured venture capital firm Flyfot Ventures and VC fund Eastern Bell Capital, the latter having contributed to a series A round that closed in 2018 to increase VisionNav’s total funding to more than $4.5m.

Founded in 2016, VisionNav produces forklifts equipped with computer vision that can automatically transport materials within warehousing units without using a railtrack. It also offers central dispatching systems for identifying warehouse goods.

The series B1 capital will go to research and development as the company looks to bolster its technology and expand its operations. It was co-founded by a team from Chinese University of Hong Kong and University of Tokyo.

Photo courtesy of VisionNav.

VisionNav Robotic, a China-based computer vision-guided forklift developer co-founded by researchers from Chinese University of Hong Kong and University of Tokyo, closed a RMB100m ($14.2m) series B1 round yesterday led by Lenovo Capital, a strategic investment vehicle for electronics manufacturer Lenovo.
The round also featured venture capital firm Flyfot Ventures and VC fund Eastern Bell Capital, the latter having contributed to a series A round that closed in 2018 to increase VisionNav’s total funding to more than $4.5m.
Founded in 2016, VisionNav produces forklifts equipped with computer vision that can automatically transport materials within warehousing units without using a railtrack. It also offers central dispatching systems for identifying warehouse goods.
The series B1 capital will go to research and development as the company looks to bolster its technology and expand its operations.
– A version of this article first appeared on our sister site, Global Corporate Venturing.