A total of over RMB 26 billion – A look at the top 10 companies in the global mobile robot sector

According to data from the CMRA and the New Strategy Mobile Robot Industry Research Institute, the mobile robot sector has maintained its growth momentum since the beginning of 2025, with high global capital market interest and activity. According to incomplete statistics, in the first half of the year alone, the global mobile robot industry raised over RMB 5 billion. As of July 10, 2025, the top 10 AGV/AMR companies in the sector had secured a combined total of approximately RMB 26.5 billion (approximately USD 3.7 billion), setting a high record.

Amid this funding boom, leading companies such as Geek+ and Quicktron have performed particularly well. Not only have they secured further funding, driving their valuations higher, but some have also entered the fast lane for IPOs. This wave of investment and financing, driven by warehouse and logistics automation and intelligent manufacturing upgrades, is both a testament to the industry’s technological capabilities and a global race for capital deployment. From the rankings, regional distribution, funding pace, to product forms, this capital bonanza reveals both the dynamics of the times and the direction of future industry development.

Chart: Top 10 Global AGV/AMR Companies by Total Funding

(As of July 10, 2025)

As seen from the funding rankings, Asian companies are demonstrating a strong presence in this global ranking battle. Five of the top 10 companies are from Asia: three from China (Geek+, Hai Robotics, and Quicktron), two from India (GreyOrange and Addverb), three from the United States (Locus Robotics, Vecna Robotics, and Fetch Robotics), and two from France (Exotec and Scallog). This distribution itself reflects the strategic penetration of manufacturing and populous nations into the mobile robot market.

In the specific rankings, Geek+ topped the list with a total funding of RMB 7.5 billion (approximately USD 960 million). It is noted that Geek+ was successfully listed on the HKEX in July 2025, raising HK$ 2.712 billion (approximately RMB 2.48 billion), becoming the “first global AMR warehouse robot company to go public.” This milestone set a benchmark for capitalization for the entire industry.

Following closely behind were Indian company GreyOrange and French company Exotec, both of which surpassed the RMB 3 billion funding threshold, ranking second and third on the list, respectively. Indian company GreyOrange has been providing modern fulfillment solutions since 2011, currently focusing on building its business in retail, logistics, and warehouse robotics. French company Exotec specializes in developing mobile robots and related software for logistics warehouses.

US company Locus Robotics, Chinese companies Hai Robotics and Quicktron, French company Scallog, US company Vecna Robotics, Indian company Addverb, and US company Fetch Robotics are on the list. It’s worth noting that Quicktron, thanks to two rounds of funding in September 2024 and May 2025, successfully surpassed the French company Scallog and ranked sixth on the list.

Chart: Regional Distribution of the Top 10 Global AGV/AMR Companies by Total Funding

Looking at the stage of funding, over 80% of the top 10 AGV/AMR companies globally by total funding have reached Series C or above. On July 9 of this year, Geek+ was listed on the HKEX; Locus Robotics is in its Series F funding round; and Hai Robotics is in its Series D+ round. In contrast, only Addverb and Scallog are below Series A. This distribution by funding stage indicates that some leading companies have broken through the bottleneck of scale-up and entered the stage of commercialization.

Chart: Financing Stage of the Top 10 Global AGV/AMR Companies by Total Funding

Further analysis of the product types of the top 10 companies reveals that the three main product types are case-handling mobile robots, unmanned forklifts, follow-and-follow picking AMRs, and multi-functional lurking AMRs. These are respectively suitable for typical scenarios such as intensive warehousing and manufacturing handling, e-commerce sorting, and flexible industrial production lines.

Specifically, case-handling mobile robots, represented by Hai Robotics and Exotec, have become a favorite of companies with large warehousing needs due to their high shelf height utilization and “goods-to-person” picking efficiency. Vecna Robotics has focused on the unmanned forklift sector, primarily serving internal factory logistics and handling. Companies such as Locus Robotics and Fetch Robotics specialize in picking AMRs, simplifying picking, handling, and other logistics operations in warehouses and distribution centers. Geek+ and Quicktron are undoubtedly exemplary in driving the continuous expansion of warehouse robot product types. Through product modularization and software scheduling optimization, they have been widely used in flexible manufacturing and smart factory upgrades. It’s not hard to see that these companies, choosing different technological paths, are developing in-depth strategies focused on achieving high-efficiency implementation in specific scenarios, thereby building their own differentiated competitive advantages.

Chart: Top 10 Global AGV/AMR Companies by Total Funding

The mobile robot industry has seen the emergence of a number of leading companies with mature business models and robust operational systems, demonstrating strong resilience. However, as the industry continues to develop, it faces a critical challenge: profitability. In the short term, the high cost of penetration in non-standard scenarios and fragmented manufacturing demand constrain scalability, while the trend toward technological homogeneity is forcing the focus of competition to shift to system integration capabilities. In the medium to long term, companies must establish a closed business cycle encompassing product delivery, after-sales service, and customer loyalty to maintain self-sustainability amidst shifting financing environments. This ultimate test of profitability will determine which companies can truly achieve sustainable development in the mobile robot sector.

At this juncture, scenario-based strategies are crucial for breakthroughs. In the short term, warehousing and logistics will remain a relatively certain application scenario. However, with the acceleration of manufacturing automation and changes in the global workforce, the emergence of emerging scenarios will continue to drive industry restructuring.

Conclusion

Looking ahead, continuous technological innovation and service upgrades will become the core drivers for companies to maintain their competitive advantage, propelling the entire industry toward higher quality and greater efficiency. Those who can truly achieve global deployment, scenario integration, and commercialization will have the opportunity to dominate this fierce competition.

This intertwined game of globalization, capitalization, and technological advancement continues. Those at the forefront may become more than just names on the funding rankings; they will become the backbone driving the next wave of intelligent manufacturing.