Autonomous mobile robot (AMR) manufacturer and AI research hub Quicktron Intelligent Technology has completed a Series C+ round of funding to develop its manual handling solutions.
Quicktron said it has witnessed accelerated growth in the AMR sector due to the coronavirus pandemic and added that Covid-19 has fuelled the need to reduce reliance on manual labour in logistics.
According to the Chinese company, e-commerce growth in Europe has been rapid as consumers develop a habit for online shopping, forcing more retailers to make the switch to online. It therefore aims to create solutions that “free human beings from manual handling”.
Technical development in the space is supported by technologies such as 5G and autonomous driving, which allow for high performance, low cost, and rapid iteration making R&D a priority.
Quicktron launched its product-level intelligent robotic solution Quick Pick last year. The system has since been adopted in industries including e-commerce, retail, footwear and manufacturing.
The Series C+ round was led by Kion Group, industrial trucks and supply chain solutions provider Prosperity7 Ventures, the diversified growth fund of Aramco Ventures as well as multiple investment institutions in China.