Locus Robotics raises US$40m in latest funding round

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IntraLogisteX 2020 exhibitor Locus Robotics has announced that it raised more than US$40m (£31m) in Series D funding.

The round was led by Zebra Ventures, the strategic investment arm of Zebra Technologies, and included existing investors such as Scale Venture Partners.

This brings Locus Robotics’ total funding to more than US$105m (£83m).

Locus’ latest financing will drive R&D and the global footprint of Locus’s collaborative multi-robot solution for retail and 3PL fulfilment

In addition to supporting the growth of the company’s R&D capacity to accelerate development of new warehouse robotics solutions, proceeds will be used to accelerate Locus’s expansion into new markets, including the launch of a European headquarters and several strategic reseller partnerships worldwide throughout 2020.

“Locus Robotics is thrilled to announce this new round of funding amid our most transformative year yet,” said Rick Faulk, CEO of Locus Robotics.

“The new funding allows Locus to accelerate expansion into global markets, enabling us to strengthen our support of retail, industrial, healthcare, and 3PL businesses around the world as they navigate through the Covid-19 pandemic, ensuring that they come out stronger on the other side.”

Locus’ autonomous mobile robot (AMR) fulfilment solution is designed to enable brands, retailers, and 3PL operators to meet higher order volumes and increasing consumer demand for e-commerce, retail, omnichannel, and manufacturing order fulfilment.

According to the company, customers worldwide, including CEVA Logistics, DHL, Boots UK, Geodis, Port Logistics Group, Verst Logistics and Radial are seeing doubling or tripling of fulfilment productivity with near-100% accuracy while saving 30% or more in operating expenses.

Read more from Robotics & Innovation

https://www.roboticsandinnovation.co.uk/ups-pilots-amrs-as-part-of-integrated-smart-warehouse-system/

https://www.roboticsandinnovation.co.uk/locus-robotics-announces-new-service-for-fast-amr-deployment/

https://www.roboticsandinnovation.co.uk/dhl-supply-chain-and-locus-robotics-expand-partnership/

https://www.roboticsandinnovation.co.uk/ceva-logistics-deploys-cobots-at-dutch-warehouse/

Locus Robotics (stand 802) will be at IntraLogisteX 2020, which will take place on 29-30 Setepmber at the Ricoh Arena, Coventry. The exhibition was rescheduled in the light of the coronavirus pandemic.

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