Source Code Capital portfolio company HAI ROBOTICS raises over $200 million across two rounds, with existing shareholder Source Code Capital continuing to increase its stake

HAI ROBOTICS, the global leader in Autonomous Case-Handling Robotics (ACR) systems, recently announced it has completed two consecutive funding rounds totaling over $200 million. The proceeds will be used to strengthen technical capabilities and product development, expand its global market presence, optimize supply chain management, and build out its organizational infrastructure. Source Code Capital led the Series B round and continued to invest in the Series C and D rounds.

The Series C was led by 5Y Capital, with participation from HSG, Source Code Capital, SVMS Dingpei Group, Walden International, and Scheme Capital. The Series D was led by Capital Today, with participation from Sequoia Capital, 5Y Capital, Source Code Capital, Legend Star, and Lingyi Venture Capital. Scheme Capital continued to serve as the company's financial advisor. This marks HAI ROBOTICS's third investment in a single year, following its Series B+ round announced in March.

Pioneer and Market Leader in ACR Systems

Founded in 2016, HAI ROBOTICS traces its HAIPICK ACR system development back to 2015 — making it the world's first case-handling robot system to be developed and commercially deployed. The system comprises four core modules: HAIPICK robots, the HAIQ intelligent management platform, multifunctional workstations (such as HAIPORT), and smart charging stations. It enables intelligent picking, transport, and sorting of warehouse goods, boosting worker productivity by 3-4x and increasing storage density by 80%-130%. Customers can automate their warehouses within one week, with full system deployment taking just one month.

Unlike traditional warehouse robots that can only operate beneath shelves and perform lifting tasks, HAI ROBOTICS's ACR robots can navigate to designated locations and use their upper-mounted mechanisms to retrieve and place individual totes, enabling the upgrade from two-dimensional to three-dimensional storage. The HAIQ platform — the "brain" of the warehouse — manages operational data, in-warehouse operations, customized slot management, equipment health monitoring, and intelligent reporting. It also provides unified scheduling of the robot operating system, intelligently allocating orders and tasks to make picking and handling operations more granular and improve SKU hit rates.

HAIPICK A42 Full-Series Robots

#1 Market Share: "We Don't Leave Projects Unfinished

To date, HAI ROBOTICS has deployed 200+ projects globally with cumulative robot shipments exceeding 2,000 units, capturing over 90% market share in case-handling robots — far outpacing competitors. Its HAIPICK system has been widely adopted across e-commerce, third-party logistics (3PL), apparel, consumer electronics, power utilities, pharmaceuticals, and retail. The company serves numerous domestic and international clients including SF Express DHL, BEST Inc, Nari Technology, Philips Zhuhai Factory, Shanghai Pharmaceuticals, Li & Fung Supply Chain, Kerry EAS, Xinning Logistics, WINIT, Booktopia, HP, and GE.

"From day one, HAI ROBOTICS has been committed to creating genuine value for our customers," said Yuqi Chen, Founder & CEO. "We operate on the principle that no project gets left behind. We deeply understand each customer's actual needs, provide tailored products and solutions, and continue offering hardware maintenance and software operations support after project acceptance to ensure smooth, stable operations."

In apparel — one of HAI ROBOTICS's earliest and most established verticals — the company has accumulated far richer project experience than its peers, serving leading brands including XINHE, JNBY, ANTA Logistics, ERAL, Alibaba Xunxi, and Qiaodan Sports, as well as 3PL apparel warehouses such as BEST Supply Chain and SF Express DHL. In recent years, HAIPICK applications have expanded into pharmaceuticals, 3C manufacturing, retail, and other sectors. Going forward, while consolidating its advantages in apparel, 3PL, and e-commerce, the company will continue deepening its solution capabilities and expanding into additional target industries, with the goal of putting logistics robots to work in every factory and warehouse.

"Source Code Capital has long believed in the tremendous value that logistics technology advances can bring to industries across the board," said Yiwen Hao. "In just a few years, the HAI ROBOTICS team has leveraged its technical strength and innovation capabilities to deploy hundreds of projects globally, earning recognition from numerous industry-leading customers. Going forward, we believe that with the team's strong capacity for self-evolution, HAI ROBOTICS will continue enhancing its technical capabilities, products, and customization abilities while accelerating its globalization — creating lasting, genuine value for customers worldwide."

Booktopia project site — Australia's largest online bookstore

Early Wins in Global Expansion

"Overseas expansion and localization will be HAI ROBOTICS's major strategic direction going forward," Chen said. International customers place heavy emphasis on ROI, product quality, stability, after-sales service, and responsiveness. Compared to local warehouse robotics companies abroad, HAI ROBOTICS holds significant advantages in project cost, technology, and customization capabilities — benefits forged through the rigors of China's complex operating environment.

In fact, HAI ROBOTICS was positioned as a global company from its inception, committed to serving worldwide customers with robotics technology and systems. In 2019, the HAIPICK robot made its overseas debut and immediately won favor with international customers and partners. To date, the company has deployed projects across multiple countries and regions, including Booktopia (Australia's largest online bookstore), GE and HP in the United States, and smart overseas warehouses in Europe built for a major domestic e-commerce platform and cross-border e-commerce leader WINIT. HAI ROBOTICS has also established strategic partnerships with numerous renowned logistics and supply chain integrators including LG CNS, MHS, MUJIN, BPS, and Savoye.

In 2021, the company accelerated its globalization further. Headquartered in Shenzhen, HAI ROBOTICS has established five subsidiaries in Hong Kong, Japan, Singapore, the United States, and the Netherlands, with offices in Taiwan, South Korea, Australia, and other locations — covering over 30 countries and regions across five continents.

WINIT UK warehouse project site

Looking ahead, Chen said: "Technological innovation is our underlying driver, and customer value creation is our core pursuit. For the foreseeable future, our priorities will be scaling replication in similar scenarios, deepening expansion across different industries, and building out our global delivery capabilities."

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