New funding will enable further world-wide expansion into new markets and support fast-growing customer and partner network
Locus Robotics announced that it has secured $50 million in additional funding from existing investor Tiger Global Management to facilitate continued growth and expansion into new markets around the globe, and more effectively meet the needs of its growing customer and partner ecosystem.
“At a time of increasing volumes and ongoing labor shortages, this new round of funding underscores how critical flexible, scalable, intelligent robotics automation has become to the warehouse and the supply chain,” said Rick Faulk, CEO of Locus Robotics. “Locus is uniquely positioned to drive digital transformation in this enormous global market.”
This additional funding adds to the investment made by Tiger Global in Locus’s series E round in February.
“We are impressed by Locus Robotics' proven technology, flexible design, and customer obsession,” said Griffin Schroeder, Partner, Tiger Global. "As their warehouse partners face rapidly growing e-commerce volumes, rising labor costs, and increasingly demanding customers, Locus will be ready to provide solutions that work.”