Funding round
Geekplus Series B
Geekplus, which works in warehouse robotics solutions development in Beijing, raised $150M in a Series B round announced on 23 Nov 2018, led by Warburg Pincus. 3 firms took part. It is Geekplus' first venture round on record.
$150M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Geekplus did not disclose a valuation in this round. It is Geekplus' first venture round on record, 3 years after it was founded in 2015. It is 33% of the $450M Geekplus has raised in the venture rounds on record. Geekplus raised again 19 months later: a Series C round of $200M in Jun 2020. Its next priced round, a Series E in Aug 2022, valued it at $2.00B.
Investors
Who put money in
Warburg Pincus led the round with 2 other firms.
Lead investor
- Warburg Pincus backs 76 venture-backed companies new investor
Also in the round
- backs 5 venture-backed companies new investor
- Vertex Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
12 Series B rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $22M, and this round was 6.8 times the median. The closest in time, other companies' Series B rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 17 Dec 2018 | $23M | not disclosed | Menlo Ventures |
| Industrial Machinery & Supplies | 19 Dec 2018 | $21M | not disclosed | John Wu |
| Industrial Machinery & Supplies | 1 Aug 2018 | $20M | not disclosed | Point72 Ventures |
| Exotec Industrial Machinery & Supplies | 12 Jun 2018 | $18M | not disclosed | Iris Capital |
| Industrial Machinery & Supplies | 18 May 2018 | $21M | not disclosed | SoftBank China Venture Capital and CCV |
| Industrial Machinery & Supplies | 30 Jul 2019 | $25M | not disclosed | not named |
| Industrial Machinery & Supplies | 28 Aug 2019 | $35M | not disclosed | not named |
| Industrial Machinery & Supplies | 23 Aug 2019 | $3.8M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Geekplus raise in its Series B round?
Geekplus raised $150M in its Series B round, announced in Nov 2018.
Who led Geekplus' Series B round?
Warburg Pincus led it, with Volcanics Investment and Vertex Ventures.
What was Geekplus' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Industrial Machinery & Supplies?
12 Series B rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $22M, and this round was 6.8 times the median.
Did Geekplus raise again after this round?
Yes: a Series C round in Jun 2020 of $200M.