Locus Robotics, a provider of autonomous mobile robots (AMRs) for fulfilment and distribution warehouses, has announced more than US$117m (£97.5m) in a Series F funding round, which it claims brings its total valuation to almost US$2bn (£1.6bn).
The company reports that this round was led by equity firms Goldman Sachs Asset Management and G2 Venture Partners.
As part of the financing, Mark Midle, managing director at Goldman Sachs, and Zach Barasz partner at G2 Venture Partners, will join Locus’ board of directors and support the company’s ambitions for further global expansion.
Read more: Locus pocus
Locus Robotics will be exhibiting its solutions at IntralogisteX 2023, which will be co-located with Robotics and Automation 2023.
“This new round of funding marks an important inflection 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,” said Rick Faulk, CEO of Locus Robotics.
“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.”
Locus develops and deploys AMRs to support large-scale warehouse fulfilment and claims its solutions improve efficiency, cut operational costs and can support organisations during labour shortages.
“Our five-year partnership with Locus has enabled DHL to deliver more resilient, flexible and scalable supply chain solutions to our customers to support faster delivery, improve operational efficiency, and reduce employee workloads,” said Sally Miller, CIO of DHL Supply Chain in North America.
“In that time, Locus’ ability to integrate groundbreaking technologies into our operations seamlessly and in a targeted way has been a tremendous success for our customers’ supply chains.”
In September 2022, Locus reached the milestone of its one billionth pick.
