Overseas revenue accounts for 40%. South Korea's Samsung and LG are its customers. An in-plant intelligent logistics manufacturer has secured hundreds of millions of yuan in Series B2 financing | Exclusive Report by Hardcore Kr

Text by | Hu Yiting

Edited by | Yuan Silai

Recently, the provider of in - field intelligent logistics solutions, "Multiway Robotics", announced the completion of a hundred - million - yuan - level Series B2 financing round. This round of financing was led by Puhua Capital, followed by Plum Ventures (which has participated in three consecutive rounds), and Minglun Capital served as the exclusive financial advisor. The funds from this financing will be mainly used for the continuous iterative R & D of core technologies, the acceleration of global market expansion, and the expansion of the production capacity of intelligent factories.

Product matrix of Multiway Robotics, image source: the enterprise

Multiway Robotics was founded in 2019 and is headquartered in Guangming, Shenzhen. Its business covers more than 30 countries and regions around the world. The company mainly provides intelligent manufacturing and intelligent logistics solutions based on robotics and artificial intelligence technologies. Its customer base covers multiple key industries such as machinery manufacturing, food and beverage, metallurgical materials, chemical energy, automobile manufacturing, and cold - chain logistics.

The core customers of Multiway Robotics include well - known global enterprises such as China Aerospace, China Pingmei, Commercial Aircraft Corporation of China, FAW Group, State Grid, Haier, Airbus AIRBUS, Sumitomo SUMITOMO of Japan, Samsung SAMSUNG of South Korea, LG of South Korea, and Emerson. So far, it has served more than 700 enterprise customers in total.

Multiple products of Multiway Robotics, image source: the enterprise

Since its establishment, Multiway Robotics has launched a full - link solution for intelligent logistics in "handling - storage - scheduling - operation and maintenance". It has developed more than 30 mobile robot products, such as all - category unmanned forklifts, AMRs, unmanned tractors, and four - way shuttles, which connect the full scenarios of storage and handling and cover all mainstream in - field requirements.

These products can also solve specific on - site problems of customers and are adaptable to complex scenarios. For example, to overcome the technical problem of stable operation in a - 25°C low - temperature environment in cold storage, Multiway Robotics launched optical communication technology to ensure network security; it also released the industry's first out - of - the - box new - form unmanned forklift, Movai Mini X1, and created the first unmanned forklift X20S that can be compatibly used with square - hole pallets without damage.

In terms of technology, Multiway Robotics has achieved full - stack self - development from the underlying algorithms such as navigation, perception, control, scheduling, and safety to the upper - layer systems such as WMS, RCS, WCS, and the Movai Cloud software system. The self - development rate of core components (such as lidars, distance sensors, and core controllers) exceeds 80%.

Multiway Robotics also launched the AI Sky - Eye system, which can cover the core requirements of full scenarios of storage and handling and enable flexible deployment; the cluster scheduling system is based on reinforcement learning algorithms and can realize dynamic path planning for multiple devices, so that the congestion rate can be less than 0.1% when hundreds of devices are scheduled in parallel.

Different from traditional logistics automation enterprises, Multiway Robotics focuses on complex scenarios and has built intelligent solutions supported by unmanned forklifts, AMRs, unmanned tractors, and four - way shuttles, which are applicable to indoor and outdoor dynamic environments, scenarios with mixed traffic of people and vehicles, narrow passages, and cold - chain applications. Guided by the technologies of high - lift (up to 12 meters), high - load (over 5 tons), and high - precision docking (±5mm), all product series of Multiway Robotics have been put into operation to meet the actual needs of global customers.

Application scenarios of Multiway Robotics products, image source: the enterprise

In terms of the market, Multiway Robotics is based in China. Since its official commercialization in 2021, the signed order amount in the first year alone exceeded 60 million yuan. So far, the company has a global layout covering more than 30 countries and regions, and the proportion of overseas market revenue has rapidly increased from less than 10% at the beginning of going global in 2022 to the current 40%.

Investors' views:

Wu Xiaofeng, a partner of Puhua Capital, the leading investor in this round, said: "In 2021, the Puhua Capital team contacted Multiway Robotics and maintained close interaction during Movai's continuous development. This time, Puhua Capital led the investment in Movai, injecting new energy into Movai's further international development. We believe that Movai will rely on its manufacturing base in Wuzhen, Tongxiang, and continue to lead the innovation and development of in - field intelligent logistics globally, creating a brand for 'Made in China'."

Wu Shichun of Plum Ventures, the follow - on investor in this round, said: "In 2020, when Multiway Robotics was still operating in a warehouse, Plum invested in Movai. We saw the lofty aspirations of the team, as well as its strategic and implementation capabilities. After several years of continuous development, Movai has gradually fulfilled its strategic plan and grown into a global startup. This investment in Movai is Plum's third support for this team. I believe that Movai will grow into a global robotics company with both scale and profit."

Investor Li Xiangle said: "The intelligent logistics solution with unmanned forklifts as the core carrier plays a key role in improving industrial efficiency and enabling flexible production, and has both profound commercial development potential and strategic value."

Investor Yu Du said: "Multiway Robotics has rapidly risen in a short period of time and become a leader in the industry with its fully self - developed software and hardware technology system and product matrix covering all scenarios. Led by an excellent management team, we look forward to the company growing into a leading enterprise in the international intelligent logistics field and promoting the overall progress and transformation of the industry."