It wasn't always this way
The Juggernaut with 20K AMRs...and Counting!
How we did it: The newbie company with the strange name that became “the world’s leading provider of advanced robotics and AI technologies applied to logistics.”
Com’on, who would ever dare to name a company Geek+ and then go out looking for millions of investment dollars from serious-faced,
due-diligence VC investors? “Gentlemen, we’re Geek+ and we want millions of your dollars.”
Who are these guys?
It takes a bunch of self-confident, skilled engineers with brilliant tech and an equally great business plan to pass muster, but, amazingly, they did just that! To date, since its founding in 2015, the Beijing startup has acquired over $400 million in investments.
As Nanalyze said of them: “they have become the world’s leading provider of advanced robotics and AI technologies applied to logistics, having successfully completed over 200 projects across four continents, deploying more than 10,000 robots.”
As of today, Geek+ announced that the 10,000 has now doubled to 20,000
“We are thankful for the confidence our investors have in the Geek+ vision, strategy and the broad commercial applications of our products,” says Yong Zheng, founder & CEO at Geek+. “We are proud of our achievements, confident in our continued growth and the depth of innovation and commercial application still to be explored for logistics robots. We know AMRs to be the future of the global logistics, and are pleased with the investors’ confidence in their market prospects.”
AMR assessment from
William Blair & Company
William Blair & Company, the independent investment bank and financial services company had this to say about the future of AMRs
“Over the mid- to longer term, however, we expect to see many AMR/AGV manufacturers close their doors or be acquired by larger industrial conglomerates.
“This is partly predicated on our stance that there appears to be a lack of material differentiation among the majority of the AMR/AGV manufacturers, as we consider the capital intensity required to service and maintain a growing and globalizing installed base. As adoption increases, we expect the industry to see greater competition on price and commoditization of the basic AMR functionality.
“Over the long term, we expect the eventual market winners are likely to be those committed to strong partnership networks, which can help capture market share early on, while continuing to invest in improved, noninvasive solutions and software.
“One of the key reasons AMRs have taken off while other robotic solutions have shuttered over the last decade has been their direct focus on solving tangible automation needs. The ability for companies to keep investing in more cutting- edge services, driving throughput, speed, and accuracy, should act as a moat in dictating who the frontrunners will be once the industry begins to correct.”
Yong Zheng, Founder & CEO of Geek+
“In past months, we’ve seen worldwide curiosity turn into action with numerous business leaders deciding to invest in intelligent automation. For us, the rapid growth demonstrates our R&D team’s ability to develop world-class solutions and signals future opportunities to gather more industry know-how. Our goal is to improve our customer’s operation management and continue to drive change using advanced robotics and strong AI.”
In the last two years, Geek+ has automated the warehouses of some of the world’s most renowned brands such as Decathlon, Nike, Circle K, Walmart, ASDA, and more. Geek+ has the largest share of the global AMR market with operations in 30 countries and offices in the US, China, Germany, the UK, Japan, Hong Kong, and Singapore. The company will continue to strengthen its regional capabilities by teaming up with local as well as global integrators.
Yong Zheng adds: “We are not just an AMR provider but a long-term automation partner that continuously optimizes the operations of our customers. It is done by strengthening our local service capabilities but also by simply analyzing robots in action and using the data gathered to optimize the algorithm powering our robots. It helps customers overcome logistics bottlenecks and gain short and long-term efficiency improvements, allowing them to grow and expand their business.”
Building upon its well-established Goods-to-Person picking robot, Geek+ now boasts a wide range of hardware solutions. Its deep product line includes the award-winning, Bin-to-Person RoboShuttle as well as sorting, moving, and lifting robots.
Today, Geek+ has over 1500 employees including hundreds of engineers invested in R&D, a fully automated robots-making robot factory, and its very own 3PL services in China. With opportunities for large-scale experiments, and first-hand experience with the various logistics challenges, the company has adopted a holistic approach that will continue to help its customers achieve fast-track growth and transform the world of logistics.
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