New Delhi:- ForwardX announced an additional $30 million in funding this week, bringing the Beijing-based company's Series C to $61 million. This funding follows the first tranche previously announced in December 2021. This brings his warehouse robot company's total funding to $140 million since its inception in 2016.

Of course, the last few years have been good times to run an autonomous mobile robot (AMR) company. In the early days, companies seeking automation moved in, and venture capital followed suit. Many factors, from supply chain crises to labor shortages, continue to drive adoption even after most regions have reopened.

"This fundraising success reflects the positive momentum the company has built over the past few years," CEO Nicholas Qi said in a press release. “ForwardX Robotics has seen significant growth in key markets and we are excited to expand our footprint globally.  

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ForwardX already has a strong customer list, including L'Oreal, IKEA, SF DHL, Uniqlo, Walmart and Mitsubishi. These are the names that interest VCs. The company says it has about 3,000 robots in total at 150 locations on four continents. The company is now looking to further expand into markets in North America, Europe, Asia and Australia.

Warehousing, logistics and manufacturing are the company's primary targets for ARM. Unlike its competitors, who focused on perfecting a single task, ForwardX quickly diversified its portfolio of robots, introducing systems for transportation, storage, picking and docking. These are managed by our own fleet management software.

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This is essentially a brownfield solution for companies that want to automate some steps of their process using robots that can work together.

Various approaches are currently being taken in this area. The penetration rate of automation systems in warehouses is still surprisingly low, leaving plenty of room for developing different solutions. 

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The Beijing Robotics company ForwardX Robotics hits a funding amount of $61 Million and as per the CEO Nicolas Chee said that they are interested to drop footprints all over the World now. The robotics firm has got a great upward form after going through many obstacles this time.