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Malu Innovation: Stock Robots

Entrepreneurs ESSEC

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31/08/2019

Cao Shuyang (M10), Yin Huixin, Wang Yuexiang, and Dr. Liu Zhe created Malu Innovation, a leading company in warehousing robotics in China.

In 2015, China was witnessing the booming of e-commerce led by Alibaba and JD, while 99% of the warehouses remained human operated. A big gap was emerging between the demand and the need: “We saw a very good opportunity for creating a new business in warehousing robotics, with world-class edge-cutting technologies in algorithm and robot.

The team developed Automated Guided Vehicle (AGVs) and a complete scheduling algorithm in order to build up a software/hardware integrated goods-to-men AGV system. “This system can reduce human labor by 70% to 80% and increase the warehouse surface utilization rate by 25% to 30%.” 

Luckily enough, their first customer was a big e-shop owner who ordered a 100 AGVs system. “This was the biggest commercialized AGV project in China! It is safe to say we instantly became leader in the industry in China – even in the world, as China is a leading country in this field.” Then JD, which operates a total of 8mn m2 warehouses in China, tripling that of Alibaba, decided to lead Malu Innovation’s A-round investment, and put them into their strategic supplier list for all their warehouses, making the business soar. 

Now we have more and more down-streaming markets: not only e-commerce, but also off-line retail, package sorting, manufacturing, pharmaceuticals, etc. For example, we recently signed a more than 20mn RMB deal with Land Rover’s China plant to implement the biggest ever AGV project in the automobile industry in China.” The company has nearly a hundred employees, and a 60mn RMB revenue. “We are very optimistic about 2019: we get a lot of demands and interests from overseas market, especially South-East Asia and Europe.” 


Find out more:
https://www.maluinnovation.com/

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Image: Malu Innovation's managing team

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