SHANGHAI, Jan. 11, 2021 /PRNewswire/ -- Leading Chinese Autonomous Mobile Robot (AMR) manufacturer and AI research hub, Quicktron Intelligent Technology Co., Ltd ("Quicktron"), has recently completed a new financing round. The C+ round funding was led by KION Group, one of the world's leading providers of industrial trucks and supply chain solutions, Prosperity7 Ventures, the diversified growth fund of Aramco Ventures as well as multiple renowned investment institutions in China. All proceeds will go towards global market expansion and further technical development, furthering the company's mission to free human beings from manual handling.
Underpinning the successful financing is impressive growth numbers from Quicktron in recent years. Operating income from 2017 to 2019 increased nearly tenfold and the total volume of orders in 2020 is expected to be more than 300 percent that of 2019. Reports have also been made public that Quicktron will be launching a sci-tech innovation board listing plan next year, gearing the company up to be the first listed AMR stock.
As a pioneer in the AMR industry, Wei Yang and Quicktron have witnessed the development process of the whole space from the outset. Given that the global penetration rate of AMR is as low as one percent, Wei Yang believes there is still an untapped industry worth 500 billion CNY. Growth in this sector has also accelerated as the COVID-19 pandemic has fueled the need to reduce reliance on manual labor in logistics. This has been particularly prominent in Europe where e-commerce has been growing rapidly as consumers develop a habit for online shopping, forcing more and more retailers to make the switch to online.
Technical development in the space is supported by sophisticated technologies such as 5G and autonomous driving becoming increasingly commonplace. These tools allow for high performance, low cost, and rapid iteration, making R&D an absolute priority for companies looking to stay ahead of the competition. For Quicktron, six years of practical experience working with clients and resources have allowed them to stay at the forefront of technical innovation. Current industry offerings either work very well in self-operated warehouses or are good at system integrations; As a leading manufacturer and solutions provider of intralogistics AI-powered robots, Quicktron offers industry-standard products across end-to-end services, with solutions aimed at solving specific pain points whilst being widely applicable.
In 2020, Quicktron launched its product-level intelligent robotic solution, Quick Pick, which is currently being used in e-commerce, retail, footwear, manufacturing, and other industries. The solution is equipped with highly efficient and stable robots that bear a high storage capacity. It also features small, lightweight, efficient, flexible, and cost-effective intelligent mobile handling robots that work well in intensive storage environments where it can carry and transfer items for on-site operators. This combination effectively reduces the need for manual operation to achieve high efficiency and versatility, easing the labor intensity and boosting overall efficiency during the traffic surge in storage handling, order picking and item return requests.
Quicktron Intelligent Technology Co., Ltd was founded in Shanghai, China in 2014. By providing various types of AMRs and backstage operating systems for multiple models, devices and scenes, Quicktron enables enterprise customers to achieve intelligentization, automation and digitization for their internal logistics, helping them to reduce costs, increase efficiency and broaden capability boundaries. The company's vision is use indoor intelligent driving solutions to free human beings from manual handling.
About KION Group
The KION Group is one of the world's leading providers for industrial trucks and supply chain solutions. Its portfolio encompasses industrial trucks, such as forklift trucks and warehouse equipment, as well as integrated automation technology and software solutions for the optimization of supply chains, including all related services. Across more than 100 countries worldwide, the KION Group's solutions improve the flow of material and information within factories, warehouses, and distribution centers. The Group, which is included in the MDAX, is the largest manufacturer of industrial trucks in Europe and the second largest worldwide in terms of units sold in 2019. It is also a leading provider of automation technology based on revenue in 2019.
About Prosperity7 Ventures
Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world's leading integrated energy and chemicals company. The fund's name derives from 'Prosperity Well', the 7th oil well drilled in Saudi Arabia and the first to strike oil. Taking forward this pioneering history, we invest globally, with a long term-view, in breakthrough technologies and transformational business models that will bring prosperity and positive impact on a vast scale.