According to incomplete statistics, the global unmanned forklift sector witnessed 13 funding events in 2024, with a total value exceeding 1.5 billion RMB. Amid a cooling trend in funding for mobile robotics companies, investors’ strong interest in unmanned forklift startups highlights the growing appeal of this sector.
Funding Highlights in 2024
Chart: Global Unmanned Forklift Funding Overview in 2024
Top Recipient by Funding Amount: Vecna Robotics
Vecna Robotics emerged as the top recipient of funding in 2024, securing a total of $114.5 million USD across two funding rounds. Spun off from its parent company, Vecna Technologies, in 2018, Vecna Robotics specializes in unmanned forklifts, pallet movers, and tow tractors. The company has established partnerships with leading enterprises such as GEODIS, a French logistics giant, and Caterpillar, the world’s largest manufacturer of construction and mining equipment.
Leader in Funding Frequency: YueShi Robotics
In terms of the number of funding rounds, YueShi Robotics led the way with five rounds completed in 2024, all within the PreA stage, reflecting its early development phase. Founded in November 2022 by a team of PhDs from Peking University, Zhejiang University, and the University of Hong Kong, YueShi Robotics aims to build a globally leading general technology platform for cold chain automation and a range of cold chain robots. The company has already developed unmanned forklifts tailored for cold storage—a challenging application area for mobile robotics. This untapped market potential is one reason for the strong investor confidence in YueShi Robotics.
Expanding Applications and Market Growth
As a subset of mobile robotics, unmanned forklifts have found widespread applications in warehousing, logistics, and manufacturing. Their efficiency, precision, and safety advantages are driving increasing adoption as businesses seek to improve productivity and reduce labor costs.
With continuous advancements in technology and the expansion of application scenarios, demand for unmanned forklifts is steadily rising. The ongoing influx of capital will provide unmanned forklift companies with critical resources and growth opportunities, propelling the industry toward further innovation and development.
