Cash Capital portfolio company Standard Robots has secured fresh funds to enter new markets with its logistics robot offering.

Standard Robots, a China-based logistics robot provider backed by Chinese Academy of Sciences, has closed an RMB100m ($14.3m) round co-led by Lightspeed China Partners and Source Code Capital, China Money Network reported on Friday.
Founded in 2016, Standard Robots supplies a range of mobile robots to automate the transport of goods in industrial and logistics settings, in addition to a data-driven software platform for managing operations.
The money has been allotted for upgrades to Standard’s manufacturing capacity, targeting overseas markets with its product along with new verticals such as car components and energy technologies.
Standard Robots had secured an eight-figure renminbi series A sum from Cash Capital, the investment arm of Chinese Academy of Sciences, in late 2018, according to China Money Network.
The funding followed an eight-figure renminbi seed round in 2017 led by Hechuang Capital and backed by Songhe Capital and Yaohong Venture Capital (all names transliterated into English).
Feature image courtesy of Standard Robots