Appears Locus Robotics is putting whereas the iron is scorching. Seven months after elevating a sizable $150 million Series E, Tiger International is investing one other $50 million within the Massachusetts agency. The final spherical made Locus a unicorn, and this one brings the corporate’s complete funding to round $300 million.
Locus focuses on warehouse and success robotics, making a extra modular answer that doesn’t require the kind of “ground-up construct” of a Berkshire Gray. The corporate’s method is nearer to that of Fetch, which was acquired by Zebra Applied sciences again in July. Locus appears prime for an acquisition from a logistics agency or retailer grappling to compete with the monolith of Amazon.
The continued funding rounds, then again, appear to level to an organization trying to proceed to go it alone.
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CEO Rick Faulk confirmed as a lot with me again in February, stating, “Now we have no real interest in being acquired. We predict we will construct essentially the most and biggest worth by working independently. There are traders that need to spend money on serving to everybody that’s not named ‘Amazon’ compete.”
Faulk provides this morning that the brand new funds are a form of validation for Locus. Actually they’re one more sign up accelerated curiosity in automation amid the pandemic. “At a time of accelerating volumes and ongoing labor shortages, this new spherical of funding underscores how vital versatile, scalable, clever robotics automation has develop into to the warehouse and the availability chain,” the manager says. “Locus is uniquely positioned to drive digital transformation on this monumental international market.”
Funding might be used to additional broaden Locus’ international operations.