Warehouse robotics firm pulls in $40 million investment from existing partners

Locus Robotics has raised an additional $40 million from its earlier investors, bringing investment in the developer of robotics for the logistics industry to about $105 million.

Locus Robotics manufactures several systems designed to work in warehouses and other stops along the logistics chain. Locus’ products are known as AMRs, or automated mobile robots. This page on its website shows several of the systems Locus has designed, operating in faciiltiies of such companies as CEVA Logistics.

The series D funding comes about 14 months after Locus raised $26 million from a group led by Zebra Ventures, which Locus describes as the strategic investment arm of Zebra Technologies. Zebra Technologies provides multiple products for warehouse operations.

In the announcement of the new round of funding, Locus said Scale Venture Partners also was a participant in the funding. Scale was an existing investor as well.

In the announcement, Tony Palcheck, the senior director of  Zebra Ventures, said of Locus’ role: “As the retail industry continues to shift to e-commerce, Locus Robotics’ warehouse automation will help businesses meet the demands of this ‘new normal,’ ensuring that customers can increase operational efficiency to meet requirements for fast, accurate delivery.”

Specific activities that Locus said it can pursue now with the added funding will be the creation of a European headquarters and setting up “strategic seller partnerships” around the world. 

In the statement announcing the funding, Locus CEO Rick Faulk said the funding will allow Locus to push into a wider reach of global markets, “enabling us to strengthen our support of retail, industrial, healthcare and 3PL businesses around the world.”

In its release, Locus quoted Greg Buzek, the president of consulting firm IHL Group and a well-known analyst on retail and logistic issues. “This [investment] underscores the need for companies to prepare for today’s new labor challenges that will be impacted by the significant volume increases that are already occurring. Companies investing now in warehouse automation, particularly AMRs, will be better positioned for success in the post-pandemic economy as they can support sales from any channel.”

Source: https://www.freightwaves.com/news/warehouse-robotics-firm-pulls-in-40-million-investment-from-existing-partners

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