Locus Robotics Raises Additional $50M to Accelerate Expansion
September 14, 2021
Locus Robotics, which develops autonomous mobile robots (AMRs) for fulfillment warehouses, has announced it secured $50 million in additional funding from existing investor Tiger Global Management to facilitate continued growth and expansion into new markets around the globe. The additional funding adds to the investment made by Tiger Global in Locus’ Series E round in February.
“At a time of increasing volumes and ongoing labor shortages, this new round of funding underscores how critical flexible, scalable, intelligent robotics automation has become to the warehouse and the supply chain,” said Rick Faulk, CEO of Locus Robotics. “Locus is uniquely positioned to drive digital transformation in this enormous global market.”
“We are impressed by Locus Robotics’ proven technology, flexible design, and customer obsession,” said Griffin Schroeder, a partner at Tiger Global. “As their warehouse partners face rapidly growing e-commerce volumes, rising labor costs, and increasingly demanding customers, Locus will be ready to provide solutions that work.”
Locus’s solution incorporates AMRs that operate collaboratively with human workers to improve piece-handling productivity, with less labor compared to traditional piece-handling systems. The solution is aimed at retailers, third-party logistics providers (3PLs) and specialty warehouses to help them meet and exceed the requirements of fulfillment environments.
Earlier this month, Locus and Körber announced it was working with evo to improve e-commerce order fulfillment operations with Locus AMRs working alongside Kӧrber’s warehouse management system.
“The automation solution from Locus Robotics and Körber was one of the first technologies that I have seen come into the warehouse where the team was excited from the get-go,” said Chris Christiansen, outbound manager at evo. “The improvement of speed and efficiency is impressive, allowing us to boost productivity and efficiency ahead of the 2021 holiday season while keeping our workers safe amid COVID-19 concerns. We are also well equipped with the flexibility to scale up and down on a Robots-as-a-service principle.”
For more details on Locus Robotics, visit its website here.