Intel is investing in Chinese autonomous mobile robot (AMR) maker Geek+ as part of a $100m series E1 round.

Geek+ is valued at over $2bn. As well as Intel Capital, investors in the round include Vertex Growth and Qingyue Capital Investment. The company will use this funding to accelerate its global market expansion and invest in its AMR technology research and development.

In early 2021, Geek+ closed a previously undisclosed series D financing round led by CPE. In 2021, Geek+ registered annual revenue of $150m and over $300m in orders. In the first half of 2022, Geek+’s order volume doubled compared with the same period in 2021, and the company expects to maintain its 100% year-on-year growth trajectory for the remainder of 2022.

“Thanks to the successful implementation of our global business strategy, the transformative value of our products, and the surge of the smart logistics market, Geek+ is well-positioned to further capture the outsized growth opportunities,” said Yong Zheng, CEO of Geek+. “Geek+ has passed the stage of simply pursuing scale and is now moving towards the stage of commercial success with profitability and positive cash flow.”

Zheng said the company was confident in the commercial success and future growth trajectory.

“The labour-intensive logistics sector has a strong demand for robotic automation, and the market is still largely underserved,” said Zheng. “With the first-mover advantage, Geek+ has already developed a solid competitive advantage in global markets, bringing in a constant driving force for business development. This, coupled with our three technology pillars of robotics, systems and algorithms, has not only allowed Geek+ to develop a full product line, but also improve R&D efficiency while reducing R&D costs.”

Geek+ says it will continue to build upon its established business strategy by accelerating the pace of its global expansion to maintain growth momentum, while also strengthening R&D innovation to enhance product differentiation with smart, sustainable offerings.

“As the leader in the global autonomous mobile robots industry, Geek+ has developed in-depth technological cooperation with Intel and is one of Intel’s benchmark partners in the field of robotics,” said Tianlin Wang, managing director at Intel Capital. “Through this investment, we will deepen the relationship between our two companies and work together to combine cloud, edge and autonomous mobile robot technologies to drive global smart logistics innovation and infrastructure modernisation.”

Geek+’s robotic product line includes capabilities for storage, picking and sorting in warehouses, as well as material handling robots and unmanned forklifts for manufacturing. In the past year, it launched a new generation of its flagship goods-to-person system, the all-in-one picking PopPick, as well as a combined AMR and four way-shuttle.

Geek+ also recently established two technology platforms: Matrix, a robotic software and hardware technology platform; and a robot management system (RMS) capable of scheduling large-scale robot clusters. With its multiple product portfolios and global business network, Geek+ provides its customers with operation and maintenance services, while using its scale effect with robot shipments to spur cost competitiveness.

“Together with Intel, we will build upon our core robotics technologies and system capabilities, strengthening the technological foundation for future business development and long-term growth,” said Zheng.

Founded in 2015, Geek+ has over 1500 employees, with offices in Germany, UK, USA, Japan, South Korea, China, Hong Kong and Singapore.