Plus One Robotics Raises $50 Million in Funding
Plus One Robotics, a provider of advanced AI vision software and solutions for robotic parcel handling, today announced that it has raised $50M in Series C funding. The round was led by Scale Venture Partners, with Partner Rory O’Driscoll joining the board of directors. Top Tier Capital Partners, Tyche Partners, ROBO Global Ventures, Translink, McRock, and Pritzker Group Venture Capital also participated in the round alongside existing investors, which brings the company’s total funding to nearly $100 million.
“The growth of e-commerce has placed tremendous pressure on shipping responsiveness and scalability that has significantly exacerbated labor and capacity issues,” said Erik Nieves, CEO and co-founder of Plus One Robotics. “Automation is key, but keeping a human-in-the-loop is essential to running a business 24/7 with greater speed and fewer errors. With the ongoing labor shortages, I believe we’ll see an increase in the adoption of Robots-as-a-Service (RaaS) to lower capital expenditures and deploy automation on a subscription basis. This new funding will help us scale up and meet the need for these solutions.”
Plus One’s technology helps to alleviate the shortage of manual labor through robotic solutions, streamlining the parcel picking and depalletizing processes. Plus One deployments perform over one million parcel picks each day. With these new funds, Plus One can further expand capacity and scale up deployment, as well as its sales and marketing in North America and internationally. Plus One Robotics serves customers in the parcel post, logistics, and general merchandise industries; customers include FedEx, MSC Industrial, and many more.
To learn more, visit the Plus One Robotics website here.