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Beijing, China based ForwardX Robotics, a provider of autonomous mobile robots (AMRs) and fleet management software for material transportation and picking operations in warehousing and manufacturing facilities, announced that it raised US $31 million in a Series C1 funding round. The round was led by Taikang Life Insurance, with Qualcomm Ventures and Starlight Capital also contributing to the round.
This latest round brings ForwardX’s total funding to approximately US $110M. The latest investment follows a March 2021 Series B infusion of US $38M. Other investments include an initial round of $10M in May 2018, a $15M 2019 Series B, and a Series B extension of $15 million in April 2020.
ForwardX representatives indicated that the funds will be used for R&D, and to expand into key markets such as the United States. The company also noted that it had plans to open an office on the US East Coast to expand its ability to serve the North American market. In March 2020 the company opened its first US headquarters in San Diego. The company has expanded outside of China previously opening an office in Toyko, Japan.
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