|Massachusetts-based Locus Robotics announced that it has raised $26 million worth of investment for their project of automation of warehouses / Photo by: Secom Bahia via Wikimedia Commons|
Massachusetts-based Locus Robotics announced that it has raised $26 million worth of investment in Series C, a funding round led by Zebra Ventures and Scale Venture Partners, which brought the overall funding to some $66 million.
The five-year-old company manufactures robotic shelving made to move bins within warehouses. It is among the emerging players that have managed to secure a hefty amount of venture funding as warehouse automation becomes a top trend in robotics, TechCrunch reports.
Locus Robotics founder Bruce E. Welty, who co-founded third-party logistics company Quiet Logistics Inc., was among the presenters for the 2017 TechCrunch Sessions: Robotics, in which Welty demonstrated the company's technology offering.
The tech news site adds that the concept is similar to many other competitors in the field, which includes Amazon's Kiva and Fetch (a company based in the bay area). Much like the said companies, Locus also piqued the interest of some major space players, such as delivery service giant DHL.
Since the beginning of the year, the space for robotics automation has begun to gain popularity.
“We have seen a massive uptick in demand for the flexible automation incorporated into Locus’s multi-bot solution, which is uniquely suited to address these challenges,” CEO Rick Faulk said in a press release.
He added that aside from significantly enhancing productivity and reducing costs, Locus Robotics is also a source of "scalable labor" that businesses can adopt to meet the demands of numerous products and customer profiles.
"This new funding will enable us to scale to meet [the] growing demand for our revolutionary solution worldwide," Faulk said, as quoted by TechCrunch.
The said uptick is evident in Amazon's purchase last week of Colorado-based firm Canvas, a company that manufactures autonomous warehouse delivery carts.
It has also seen Boston Dynamics' assessment of the warehouse automation segment and its view of it as a way to further develop its own already impressive innovations, as the engineering and robotics design company puts its robot called Handle to work in a fulfillment center.