https://techcrunch.com/2022/04/29/chinas-logistics-robot-maker-visionnav-raises-79m-at-500m-valuation/

Industrial robotics has in recent years become one of the hottest tech sectors in China as the country encourages the use of advanced technology to enhance efficiency on the production floor.

VisionNav Robotics, which specializes in autonomous forklifts, stacking vehicles and other logistics robots, is the latest industrial robot maker from China to get funded. The Shenzhen-based automated guided vehicle (AGV) startup has snagged 500 million yuan (around $76 million) from a Series C extension round led by Meituan, China’s food delivery giant, and 5Y Capital, a prominent venture capital firm in the country. Its existing investors IDG, TikTok’s parent firm ByteDance, and Xiaomi founder Lei Jun’s Shunwei Capital also joined in the round.