Total amount raised
$416 Millions
Latest funding date
11/01/2022
Location
Locus Robotics has made significant strides in the field of warehouse automation through its innovative use of autonomous mobile robots (AMRs). The company's technology is designed to enhance flexibility and throughput in various warehouse environments.
Keep reading to explore the intricacies of Locus Robotics' fundraising journey and the investors backing this innovative platform.
What Is Locus Robotics?
Founded with a deep heritage in warehouse operations, Locus Robotics specializes in AI-driven, enterprise-grade autonomous mobile robots (AMRs) designed to transform warehouse workflows. The company focuses on boosting productivity, operational efficiency, and workplace safety through its innovative robotics technology.
While the exact founding year and location are not specified, Locus Robotics has established itself as a leader in warehouse automation. The company's solutions are tailored to meet the diverse needs of various industries, enhancing flexibility and throughput in warehouse environments.
Unfortunately, the names of the founders and the number of employees are not available from the provided sources. However, Locus Robotics continues to make significant strides in the field, driven by a commitment to innovation and excellence in warehouse automation.
How Much Funding Has Locus Robotics Raised?
- Series A
- Amount Raised: $8M
- 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: $25M
- Date: November 2017
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market presence and enhance the capabilities of their AMRs.
- Series C
- Amount Raised: $26M
- Date: April 2019
- Lead Investors: Scale Venture Partners, Zebra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and meet increasing demand for warehouse automation solutions.
- Series D
- Amount Raised: $40M
- Date: June 2020
- Lead Investors: Zebra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand their customer base globally.
- Series E
- Amount Raised: $150M
- Date: February 2021
- Lead Investors: Bond, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enhance their technology platform.
- Series E (Additional)
- Amount Raised: $50M
- Date: September 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further fuel growth and expand their market reach.
- Series F
- Amount Raised: $117M
- Date: November 2022
- Lead Investors: Goldman Sachs Asset Management, G2 Venture Partners
- Valuation at Round: Close to $2 billion
- Motivation Behind the Round: To accelerate industry leadership, support growth, and facilitate global expansion amidst the digital transformation of the supply chain.
Total Amount Raised: $416M. Current Valuation: Close to $2 billion.
Key Investors
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is a global investment banking, securities, and investment management firm. They focus on a wide range of sectors including technology, healthcare, consumer, and industrials.
- Investment Focus Areas: Technology, healthcare, consumer, industrials.
- Notable Investments: Uber, Spotify, Airbnb.
- G2 Venture Partners
- Details: G2 Venture Partners focuses on technology companies that are driving sustainable transformation in traditional industries. They emphasize environmentally and socially responsible economic growth.
- Investment Focus Areas: Energy, transportation, manufacturing, agriculture.
- Notable Investments: Proterra, Luminar, Arcadia.
- Scale Venture Partners
- Details: Scale Venture Partners focuses on early-in-revenue technology companies. They have a strong track record in sectors such as SaaS, cloud computing, and digital health.
- Investment Focus Areas: SaaS, cloud computing, digital health.
- Notable Investments: Box, DocuSign, HubSpot.
- Next47
- Details: Next47 is a global venture firm that invests in technology and innovation-driven companies. They focus on early and expansion stage companies.
- Investment Focus Areas: SaaS, Enterprise IT, Deep Tech, AI/ML.
- Notable Investments: Not specified in the sources.
- Stack Capital Group
- Details: Stack Capital Group invests in growth-to-late-stage private businesses. They aim to provide access to high growth businesses not widely available to most Canadian investors.
- Investment Focus Areas: Growth-stage companies across various sectors.
- Notable Investments: Not specified in the sources.
What's Next for Locus Robotics?
As Locus Robotics continues to expand its footprint in the warehouse automation market, the opportunities ahead are vast. The company is poised to capitalize on the increasing demand for intelligent robotics solutions, driven by labor shortages and the need for operational efficiency. With over 230 sites under contract globally, Locus Robotics is well-positioned to leverage its strong market presence and innovative technology to further penetrate new markets and industries.
Future fundraising opportunities appear promising, especially with the backing of high-profile investors like Goldman Sachs and G2 Venture Partners. These strategic partnerships not only provide financial support but also bring valuable expertise to help navigate the complexities of global expansion. As the company scales, additional funding rounds are likely to support its ambitious growth plans and technological advancements.
However, Locus Robotics will face challenges along the way. The dynamic economic environment and intense competition from other robotics startups and established players like Amazon will test the company's resilience. Managing large-scale deployments and maintaining operational efficiency will be crucial as they continue to grow. Despite these hurdles, Locus Robotics' strong market position and innovative solutions make it a formidable player in the rapidly evolving warehouse automation industry.
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