Locus Robotics' industry-leading robotics fulfillment solution enables brands, retailers, and third-party logistics (3PL) operators to quickly meet higher order volumes and the increasing consumer demand for e-commerce, retail, omnichannel, and manufacturing order fulfillment
Fremont, CA: Autonomous mobile robotics manufacturer Locus Robotics raised over USD 40 million in a Series D funding round led by Zebra Ventures, the strategic investment arm of Zebra Technologies. Existing investors and Scale Venture Partners also participated in the round. The latest round of funding takes the company's total raised capital to over USD 105 million.
"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."
Apart from supporting the growth of the company's R&D capacity, to drive faster development of new warehouse robotics innovations, proceeds from the investment round will be used to accelerate Locus's expansion into new, global markets, including the launch of a European (EU) headquarters and several strategic reseller partnerships worldwide throughout 2020. "Automation has proven to be a critical solution for retail and third-party logistics businesses during this challenging time. As the retail industry continues to shift to e-commerce, Locus Robotics' warehouse automation will help businesses meet the demands of this 'new normal,' ensuring that customers can increase operational efficiency to meet requirements for fast, accurate delivery," said Tony Palcheck, Senior Director, Zebra Ventures.
The COVID-19 pandemic has rapidly transformed the entire retail industry, making online and omnichannel purchasing the new normal across the globe. Locus Robotics' industry-leading robotics fulfillment solution enables brands, retailers, and third-party logistics (3PL) operators to quickly meet higher order volumes and the increasing consumer demand for e-commerce, retail, omnichannel, and manufacturing order fulfillment.
"We have recently seen a dramatic disruption of retail with e-commerce growth as high as 400 percent year-over-year in some categories. And others were severely limited as the bulk of their inventory was in stores that they could not get into due to lockdowns. It's critical that retailers are prepared for direct fulfillment from the warehouse," said Greg Buzek, President of IHL Group. "This announcement underscores the need for companies to prepare for today's new labor challenges that will be impacted by the significant volume increases that are already occurring. Companies investing now in warehouse automation, particularly AMRs, will be better positioned for success in the post-pandemic economy as they can support sales from any channel."