Startups & Business News
Hai Robotics is making big moves in the warehouse robotics world. The Shenzhen-based company just filed for a Hong Kong IPO, positioning itself as the first dedicated ACR specialist to go public. This step comes after years of grabbing major funding that fueled its rise from a small startup to a global player in automating warehouses.
Founders' Bold Start
Richie Chen and Bing Fang kicked off Hai Robotics in 2016. Both are grads from Hong Kong’s PolyU, where they teamed up on tough robotics projects under their professor. Richie, now CEO, saw the need for smarter warehouse tech amid labor shortages and an aging workforce. Bing handles operations as co-founder. They bootstrapped early with university grants—first HK$700,000, then more to build prototypes after scouting 30+ warehouses for real pain points.
Their first gig was an optical module sold to NASA and Huawei, but they pivoted to robots. By 2015, they launched HaiPick, their flagship ACR system that brings goods to workers, slashing travel time to zero.
Funding Wins Fuel Growth
Money started flowing fast. In 2020, a Series B brought in over $14 million to build global service centers. Then 2021 exploded: a $15M B+ led by 5Y Capital, followed by a whopping $200M across Series C and D. C was 5Y-led with Sequoia China, Source Code Capital, and others; D had Capital Today joining existing backers like Legend Star.
By 2022, a D+ round added $100M+ more, led by Capital Today. Richie said these funds went straight to robot upgrades, global expansion, and hiring—now over 1,000 staff, half engineers with 400+ patents. No acquisitions yet, but this IPO filing marks the next chapter after hitting unicorn status.
| Section | Key Information |
|---|---|
| Core Technology | Autonomous Case-handling Robot (ACR) systems, branded as HaiPick, robots that climb racks, pick cases, and bring them to workers to cut human travel time. |
| 2024 Revenue | RMB 1.36 billion (around USD 189 million) reported in 2024. |
| Major Funding Rounds | Series A+B total over USD 14.66M; later B+ round of USD 15M; about USD 200M across Series C and D; over USD 100M D+ round. |
| Key Investors | 5Y Capital, Sequoia Capital China, Source Code Capital, Capital Today, Legend Star, 01VC, and others. |
| Global Presence | HQ in Shenzhen; subsidiaries in Hong Kong SAR, Japan, Singapore, U.S., and Netherlands; serving customers in 30+ countries and regions. |
| Team & IP | 1,000+ staff, over 50% engineers; more than 400 global patents in positioning, robot control, and warehouse management. |
| Performance Highlights | ACR systems can boost warehouse throughput, improve efficiency, reduce labor needs, and save storage space, according to company claims. |
| Strategic Direction | Focus on overseas expansion, localized service, and continuous technology innovation to stay ahead in warehouse automation. |
Tech That Powers Warehouses
What sets Hai Robotics apart? Their ACR tech—Autonomous Case-handling Robots—like HaiPick systems. These bots climb racks, grab cases, and deliver to pickers, boosting throughput 3x, efficiency 4x, cutting labor 67%, and shrinking space 75%. Accuracy? Over 99%.
From e-commerce to pharma, they’ve deployed 2,000+ robots in 30+ countries. Partners include LG CNS, MUJIN, and US firms like St. Luke’s Health and Boot Barn, who rave about scaling orders without extra hires. In 2024, revenue hit RMB 1.36 billion ($189M), proving the model works.
Road to IPO and Beyond
Filing for Hong Kong IPO on Feb 13 means public markets next, as the “world’s first dedicated ACR specialist.” After private rounds totaling hundreds of millions, it’s cashing in on warehouse automation boom—think labor crunches post-pandemic.
Global subs in US, Japan, Netherlands, and more show they’re not just China-focused. Recent team-ups like with Vanas Engineering in Benelux aim to speed adoption. Richie eyes overseas growth and service tweaks to beat rivals on cost and customization.
This story shows how two PolyU grads turned warehouse woes into a billion-dollar biz. With IPO ahead, expect Hai Robotics to robotize more shelves worldwide.
futureTEKnow
Editorial Team
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