VisionNav Robotics Raises $80m in C+ Round, Leading the Largest Funding in Driverless Industrial Vehicles Field
Summary
Research new technology and innovative forms of product development;Founded in 2016, VisionNav Robotics is now a leading company of driverless industrial vehicles. Over 70% are projects with complex scenarios and rigid demands, and cooperation has also been established with in excess of fifty Fortune 500 companies.Low efficiency, a difficult labor recruitment environment, and a lack of digitalization have been the main pain points that have plagued the intralogistics of enterprises for a long time. Driverless industrial vehicles provide a feasible solution to these pain points, thus forming a potential market with huge growth. At present, the electrification ratio of global forklifts has reached 63% (WITS, 2020), and it is expected that 20% will be autonomous in 2028, with a market size of nearly 100 billion.VisionNav Robotics places great emphasis on the development and application of driverless industrial vehicles. Based on industry-leading robot perception, control, positioning, and scheduling technology, its business has covered all scenarios of intralogistics, making breakthroughs such as 9.4-meter high rack storage, 2-meter narrow aisle access, unmanned loading and unloading, multi-layer mobile material frame stacking and other complex scenario applications, precipitated a large number of learning scenarios, established industry feasibility standards, and formed absolute technical barriers.In terms of its business model, VisionNav Robotics has maintained close cooperation with key players throughout the business chain, including leading international suppliers and end customers.