(Bloomberg) -- Chinese logistics technology company Geek+ is considering an initial public offering that could raise about $500 million, according to people familiar with the matter.

The Beijing-based specialist in robotics and artificial intelligence is working with an adviser on its share sale plans, which could happen as soon as this year, the people said, asking not to be identified as the information is private. While the firm prefers a listing in the U.S., the recent volatility in U.S.-listed Chinese stocks may affect the choice of venue, hence it is also considering Shanghai’s Nasdaq-style STAR board, two of the people said.

Chinese companies considering going public overseas have faced fresh obstacles in the wake of Didi Global Inc.’s IPO and Beijing’s subsequent crackdown. Their U.S.-traded shares slumped on concerns that China is stepping up scrutiny of numerous sectors, as regulators proposed subjecting companies with more than a million users to a cybersecurity review ahead of going public.

Geek+ expects it would likely not be subject to such a review, as its business does not involve handling large amounts of user data, the people said.

Deliberations are at an early stage and the company could decide not to pursue a listing, the people said. Geek+ did not immediately respond to requests for comment via email, phone and WeChat.

Founded in 2015, Geek+ uses advanced robotics and artificial intelligence in managing warehouses and factory operations, according to its website.

In June 2020 the company completed a series C funding round of more than $200 million, according to a release. Warburg Pincus, GGV Capital, D1 Capital Partners, Vertex Ventures and Redview Capital participated in the round.

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