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Syrius Robotics, a Chinese-based provider of autonomous mobile robots for warehousing, closed a B+ funding round of $7.4 million (50 million yuan) this week, according to a story posted by Techcrunch. With this round, the four year old startup has raised a total of $40 million.
This round was exclusively backed by Harvest Capital, a Chinese investment firm. In a prior round in August 2021, Syrius raised $20 million. In that round TikTok parent ByteDance was the lead investor. Other investors include Sequoia Capital China.
Syrius Robotics develops autonomous mobile robots (AMRs) specifically to automation warehouse workflows. The Syrius portfolio includes AMRs that can carry a variety of payloads between 50 kg (133 lbs) and 300 kg (800 lbs). All of the AMRs can freely navigate throughout the warehouse, to pick and deliver cargo to help automate fulfillment processes.
In addition to the domestic China market, the company has clients in Japan, Singapore and South Korea. It is also in the process of expanding operations to Southeast Asia, North America and Europe.
The company sells the AMRs as a capital purchase or offers them in a robots-as-a-service sales model. The company didn’t disclose how it intends to use the additional investment, however, RaaS-based companies require additional capital to build out their fleet of robots.