What is happening: The robotics company Geek Plus Inc have raised a massive $150m in a Series B funding round led by Warburg Pincus.
Why is this happening: The warehouse robotics sector is on the up, as more companies look towards automation to improve efficiency, costs, and speed. Start ups are now racing to provide such services in an already competitive market.
Geek Plus: The Beijing-based company concentrate on warehouse robots. They have over 5,000 robots working around the globe, with some in China and the US. They also forecast fivefold growth in 2019.