Beijing J-Elephant Technology Co Ltd, a forklift autonomous mobile robot manufacturer in China, announced that it has raised $15 million in its angel and pre-A rounds of fundraising.
The angel round was jointly invested in by Sequoia Capital China, Legend Star, and Sinovation Ventures. The pre-A round attracted other investors, including Linear Capital and Challenjers Venture.
According to Lyu Feng, CEO of J-Elephant Technology, compared with traditional human forklifts and forklift automated guided vehicles, the company’s forklift AMRs are more flexible and safe.
According to the company, the new round of funds will be used for research and development, talent recruitment, mass production capacity building, and business expansion.
As an incubating project of Sinovation Ventures’ artificial intelligence laboratory, J-Elephant Technology has proved its latest forklift AMR has rich commercialization scenarios and broad market potential, as its products have been adopted by many of the world’s top 500 companies, said Ren Bobing, executive director of Sinovation Ventures.
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