- The company’s valuation is fast reaching the $2 billion mark
- It plans to utilize the funds for fulfilment and distribution warehouses
A leading autonomous mobile robots (AMR) company, Locus Robotics recently secured $117 million in its latest round—series F funding. The round was led by Goldman Sachs Asset Management and G2 Venture Partners. It must be noted that Goldman Sachs MD, Mark Midle, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus Board of Directors. The company believes that the new members will bring their unique industry perspectives and insights to further guide Locus’s next stage of growth and global expansion. The official release pointed out that this strategic round of funding will accelerate its industry leadership in the warehouse automation space. It aims to rush the funds for fulfilment and distribution warehouses.
Locus CEO stated: “This new round of funding marks an important inflexion point for Locus Robotics as we look toward our next stage of growth, and we strategically chose to bring in investors with a wealth of experience in both public and private markets to advise us as we continue our journey. As the rapid digital transformation of the supply chain continues, warehouses increasingly seek flexible, intelligent robotics automation to improve productivity and grow their operations, despite ongoing labour shortages and exploding order volumes.”
Mark Midle commented, “Locus has established itself as an innovative, high-quality market leader for flexible automation in the massive warehouse fulfilment and distribution market. Our investment reflects our view that Locus has the product offering and the operational excellence required to meet and exceed the market challenges posed by today’s dynamic economic environment.”
For Zach Barasz, with its extraordinary consistency, Locus is a winner in the flexible warehouse robotics space. He said, “We are thrilled to be investors in Locus Robotics, and to partner with the leading warehouse execution company in making global supply chains faster, more cost-effective, and more resilient and sustainable.”
The funding round saw participation from Stack Capital Group, Next47, Stafford Capital Partners, HESTA, Newton Investment Management North America, Gray’s Creek Capital, Silicon Valley Bank, Hercules Capital, Inc., BOND, and Scale Venture Partners.
Locus, in an official communication, noted that it reached a major milestone in September 2022 with its industry-first 1 billionth pick. It took Locus 1,542 days to pick its first 100 million units and just 40 days for the last 100 million picks. Currently, Locus robots average over three million picks per day globally.
MD of Interact Analysis, Ash Sharma said, “As order volumes continue to increase and labour shortages persist worldwide, robotics automation is now a must-have for warehouse operators.”
Massachusetts-based Locus Robotics identifies itself as the revolutionary, multi-bot solution provider that incorporates powerful autonomous mobile robots to dramatically improve piece‐handling, case-handling, and pallet-moving productivity. Locus aims to help retailers, 3PLs, and speciality warehouses meet and exceed the complex and demanding requirements of fulfilment environments. Locus believes in transforming productivity without transforming the warehouse.
