Growing numbers of self-driving machines are shuttling clothing and sports equipment down warehouse aisles, pulling bins of groceries, cosmetics and industrial parts from high stacks and handing off goods to human workers to help deliver orders faster.
Locus Robotics, maker of fulfillment-warehouse robots, was already growing fast thanks to the rise of e-commerce. Then Covid hit, speeding its revenue enough to make it the number one company on this year’s Fast 50 list.
Adam Sandow spent the past few decades building a portfolio of publications, including Interior Design, Luxe and Metropolis. From that business, he got an idea for a marketplace for architectural, design and construction materials that could bring technology, search and ease to the old-school way of dealing with samples.
Warehouse is the official magazine of UKWA. It is produced 6 times per year and is mailed out to named individuals – members and other industry professionals – who have signed up to receive every issue. The magazine is distributed at all major industry events attended by UKWA and is also available as an e-zine on our website, significantly extending readership.
Robots that can help retailers keep up with Amazon are a hot commodity, and investors are taking notice. Today, one of these industrial robotics makers, Locus Robotics, said that it had raised $150 million led by Tiger Global and Bond at a $1 billion valuation as e-commerce surged. It was one of the first to reach the unicorn level.
As more warehouses turn to automation, Locus Robotics is cashing in. The company announcing $150 million in series E funding, bringing their total valuation to a whopping $1 billion, officially reaching unicorn status. Locus Robotics CEO Rick Faulk joined Cheddar to discuss the raise.
Locus Robotics, the leader in autonomous mobile robots (AMR) for fulfilment warehouses, has announced $150 million in Series E funding, led by Tiger Global Management and BOND.