Total amount raised
$416 Million
Latest funding date
11/01/2022
Location
Locus Robotics has successfully raised funding over seven rounds, with the latest being a Series F involving 13 investors, including G2 Venture Partners and Goldman Sachs Asset Management. The company has a total of 16 investors, with recent additions like HESTA and SuRo Capital.
Keep reading to explore the intricacies of Locus Robotics' fundraising journey and the investors backing this innovative platform.
What Is Locus Robotics?
Locus Robotics, based in Wilmington, Massachusetts, is a leading company in the warehouse automation and robotics industry. Founded to address the growing needs of e-commerce, the company specializes in manufacturing autonomous mobile robots (AMRs) that enhance productivity and efficiency in warehouse operations.
With an employee count ranging between 251-500, Locus Robotics operates across various sectors including E-Commerce, Industrial Automation, Logistics, and Warehousing. Their flagship platform, LocusONE, integrates AI-driven business intelligence with a suite of hardware and software to provide scalable and flexible automation solutions.
How Much Funding Has Locus Robotics Raised?
- Series A
- Amount Raised: USD 8,000,000
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial autonomous mobile robots (AMRs) for warehouse automation.
- Series B
- Amount Raised: USD 25,000,000
- Date: November 2017
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
- Series C
- Amount Raised: USD 26,000,000
- Date: April 2019
- Lead Investors: Scale Venture Partners, Zebra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase deployment in warehouses.
- Series D
- Amount Raised: USD 40,000,000
- Date: June 2020
- Lead Investors: Zebra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and meet the rising demand for warehouse automation due to the e-commerce boom.
- Series E
- Amount Raised: USD 150,000,000
- Date: February 2021
- Lead Investors: Bond, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global operations and enhance technological capabilities.
- Series E
- Amount Raised: USD 50,000,000
- Date: September 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support global expansion and product development.
- Series F
- Amount Raised: USD 117,000,000
- Date: November 2022
- Lead Investors: G2 Venture Partners, Goldman Sachs Asset Management
- Valuation at Round: Close to USD 2 billion
- Motivation Behind the Round: To accelerate industry leadership and support the next phase of growth and global expansion.
Total Amount Raised: USD 416,000,000. Current Valuation: Close to USD 2 billion.
Key Investors
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is a leading global investment manager, providing investment and advisory services to institutional and individual clients. They manage a broad range of asset classes, including private equity, real estate, and infrastructure.
- Investment Focus Areas: Technology, healthcare, financial services, consumer sectors.
- Notable Investments: Uber, Spotify, WeWork.
- G2 Venture Partners
- Details: G2 Venture Partners focuses on investing in emerging technologies that drive sustainable transformation across traditional industries. They aim to support companies that contribute to environmentally and socially responsible economic growth.
- Investment Focus Areas: Technology, sustainability, industrial innovation.
- Notable Investments: Proterra, Luminar Technologies, Arcadia.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology sectors. They have a strong track record of backing high-growth companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Stripe.
- Bond
- Details: Bond is a venture capital firm that invests in technology and innovation-driven companies. They focus on supporting businesses that have the potential to disrupt and transform industries.
- Investment Focus Areas: Technology, innovation-driven companies.
- Notable Investments: Airbnb, DoorDash, Slack.
- Zebra Ventures
- Details: Zebra Ventures is the investment arm of Zebra Technologies, focusing on technology and innovation in enterprise asset intelligence. They invest in companies that enhance operational efficiency and productivity.
- Investment Focus Areas: Technology, enterprise asset intelligence.
- Notable Investments: Fetch Robotics, Plus One Robotics.
What's Next for Locus Robotics?
Locus Robotics stands at the cusp of significant growth, driven by the increasing demand for warehouse automation. With over 230 sites globally and partnerships with major operators like DHL, the company is well-positioned to capitalize on the massive market for intralogistics robots. The integration of advanced technologies like AI and business intelligence further enhances their operational efficiency and productivity.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors such as Goldman Sachs and G2 Venture Partners. This financial support will likely fuel further global expansion and technological advancements, solidifying Locus Robotics' market leadership. However, the company must navigate challenges such as economic fluctuations, competition from established players, and the need to continuously innovate to maintain its edge.
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