Locus Robotics Announces $150 Million In Series E Funding
Wilmington: Locus Robotics, the leader in autonomous mobile robots (AMR) for fulfillment warehouses, today announces $150 million in Series E funding, led by Tiger Global Management and BOND. The round builds on support from existing investors including Scale Venture Partners and Prologis Ventures, the venture capital arm of Prologis, the global leader in logistics real estate.
“This new round of funding marks an important inflection point for Locus Robotics,” said Rick Faulk, CEO of Locus Robotics. “Warehouses facing ongoing labor shortages and exploding volumes, are looking for flexible, intelligent automation to improve productivity and grow their operations. Locus is uniquely positioned to drive digital transformation in this enormous global market.”
Locus will use the new investment to further expand its market opportunities around the globe and support ongoing research and development (R&D) to grow and enhance its award-winning, innovative warehouse technology solution.
In a market of more than 20 billion square feet of warehouse space worldwide, and rising e-commerce volume, Locus helps operators effectively meet the industry’s growing demand, while seamlessly managing today’s often unpredictable volume shifts. Locus currently serves more than 40 customers and 80 warehouses around the world with its industry-leading solution. LocusBots have picked more than 300 million units, including 70 million units during the recent holiday season.
Locus’s proven, innovative, multi-bot solution for warehouse fulfillment incorporates collaborative, autonomous mobile robots that significantly improve productivity and deliver powerful, actionable business intelligence. Locus’s strategic partnerships with industry-leading warehouse software companies leverage a powerful synergy that speeds systems integration and deployment.
“As businesses increasingly look for ways to deliver productivity and operational efficiencies into their supply chain, it has become critical that providers deliver on the promise of speed and reliability in their technology deployments,” said John Santagate, VP of Robotics at Körber Supply Chain. “Through our strategic partnership with Locus Robotics, we continue to collaborate and innovate in order to deliver rapid results by driving down the time it takes from a decision to use of Locus Robots in the warehouse.”
Locus’s powerful business intelligence helps customers manage their business operations in real-time. Accessible from anywhere, managers can review a wide range of dashboards using their phones or laptops, while employees can monitor performance on displays right on the warehouse floor.
Locus’s patented, proprietary software and intuitive user interface seamlessly integrated into both existing and new warehouse environments improving the efficiency of both inbound (“putaway”) and outbound (“picking”) fulfillment. Locus robots can be configured to carry a wide variety of items. Patented technology automatically recognizes workers, and the robot’s large screen displays information in the worker’s preferred language, facilitating greater productivity and reduced error rates. Locus’s innovative “Gamification” feature displays individual performance statistics to help motivate workers to greater achievement. The Locus solution includes real-time analytics, dashboards, and reporting to customers to maximize productivity and support continuous improvement in the warehouse.
