July 28, 2021
InVia Robotics, which develops next-generation warehouse automation solutions including autonomous mobile robots, has announced raising $30 million in a Series C funding round. The round was co-led by M12 (Microsoft’s venture fund) and Qualcomm Ventures, with participation from Hitachi Ventures and existing investors Point 72, Upfront, and Embark. The company has raised $59 million from strategic funders to date.
The latest funding for inVia Robotics comes after record revenue and deployment growth in 2020, driven by demand for optimization technology in e-commerce fulfillment, the company said. In the U.S. alone, e-commerce experienced 44% year-over-year growth, prompting immediate and long-term adjustments for fulfillment centers to keep up with record online shopping numbers. InVia said it increased deployments, growing revenue by 600%.
“We are proud and honored to have earned the confidence from these industry-leading investors who are equally as committed to the progress of automation within the supply chain as we are,” said Lior Elazary, CEO and co-founder of inVia Robotics. “We have intentionally aligned ourselves in the best interest of our customers and their businesses, finding ways to not only optimize productivity, but also further inVia Robotics’ global reach.”
The company said the latest funding will be used primarily to extend its product reach and operational support in North America, as well as to drive market expansion to Asia-Pacific and Europe-Middle East areas. It also plans to align with strategic supply chain partners to open new channels and deliver end-to-end logistics solutions. The company said it anticipates using the Qualcomm Robotics RB5 Platform, a 5G and AI-enabled robotics platform that can accelerate development of robots and drones.
“Global e-commerce adoption is experiencing exponential growth resulting in the need for robust warehouse solutions,” said Quinn Li, senior vice president at Qualcomm Technologies, and global head of Qualcomm Ventures. “InVia’s AI-powered warehouse automation solutions help improve warehouse throughput and workflow efficiency.”
The company said it is an industry leader with its robotics-as-a-service (RaaS) model, which allows companies to have an easy entry point to commence a scalable path to autonomous mobile robot fleets to meet their business needs. The company also makes automation adoption manageable through a subscription-based payment system where companies pay according to the productivity levels they desire, versus needing to lease or maintain equipment.
“InVia’s integrated solution – with software and AI at the core – enables warehouse managers to take advantage of operational and cost efficiencies that have historically only been available to large enterprises,” said James Wu, principal at M12. “Now, inVia’s pre-built integrations with warehouse management systems are making scalable customization accessible to companies of all sizes.”
The company’s platform digitizes every logistics workflow, using AI to continually optimize machines and people. It includes the inVia Logic intelligent software that orchestrates the most efficient movement of goods across a warehouse using proprietary algorithms to assign and balance tasks. The company’s inVia Picker robots are a mobile goods-to-person automation method, and the solution can be integrated into existing operations or new facilities, the company said.
For more details on the company, visit the inVia Robotics website here.