Locus Robotics raises $117 million in new funding, valuing the startup at $2 billion

Locus Robotics raises $117 million in new funding, valuing the startup at $2 billion

Bots sitea manufacturer of autonomous mobile robots for fulfillment and distribution stores, has raised $117 million in Series F funding, led by Goldman Sachs Asset Management and G2 Venture Partners.

As part of the financing, Mark Middle, Managing Director, Goldman Sachs, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus Board of Directors, bringing their unique perspectives and industry insights to guide the next phase of Locus’ further growth and global expansion.

“Locus has established itself as an innovative, high-quality market leader for flexible automation in the massive warehouse and distribution fulfillment market,” says Middle.

“Our investment reflects our view that Locus has the product offering and operational excellence required to meet and exceed the market challenges posed by the current dynamic economic environment.”

“This new round of financing marks an important inflection point for Locus Robotics as we look forward to its next phase of growth, and we have strategically chosen to bring in investors with a wealth of experience in both the public and private markets to advise,” says Locus Robotics CEO Rick Volk. us as we continue our journey.

“As the supply chain continues to rapidly digitize, warehouses are increasingly seeking flexible and intelligent robotics to improve productivity and augment their operations, despite persistent labor shortages and ballooning order volumes.”

The Locus warehouse fulfillment platform disrupts large-scale and distributed warehouse fulfillment with what the startup says is an “industry-leading, intelligent and dynamically scalable solution.”

Locus says it delivers “2x-3x productivity by seamlessly coordinating both human labor and AMRs to dramatically improve order fulfillment efficiency and workplace ergonomics, while lowering operational costs.”

Zach Barasz of G2 Venture Partners says: “Locus is clearly the winner in the flexible warehouse robotics space, and the consistency with which the Locus team has executed is remarkable.

“We are excited to be an investor in Locus Robotics, and to partner with a leading warehouse implementation company in making global supply chains faster, more cost-effective, more resilient, and more sustainable.”

With more than 230 contract sites worldwide—some with up to 500 LocusBots per site—the Locus solution efficiently and seamlessly organizes the operation and management of multiple bot form factors, delivers forward-looking business intelligence in real time, critical to improving productivity, and proactively manages labor and cost management.

“By 2026, 75 percent of large product-focused businesses will adopt some form of robotics within logistics in their warehouse operations,” says Dwight Klapitch, analyst at Gartner.

“A lower price-to-entry and faster time-to-value for bots opens the market to more companies that can justify automation… As companies adopt bots, most organizations will expand their use of bots within the enterprise, driving fleet growth.”

Locus partners with the world’s leading warehouse operators to create powerful synergies that accelerate deployment and deliver powerful, actionable business intelligence to improve warehouse productivity, cost management and labor management.

“Our 5-year partnership with Locus has enabled DHL to offer our customers more agile, flexible and scalable supply chain solutions to support faster delivery, improve operational efficiencies and reduce employee workloads,” says Sally Miller, Chief Information Officer, DHL Supply Chain North America.

“At that time, Locus’ ability to seamlessly and in a targeted manner integrate leading technologies into our operations was a tremendous success for our customers’ supply chains.”

In September 2022, Locus hits a milestone with its first pick in the industry, the billionth. It took Locus 1,542 days to pick the first 100 million units and 40 days for the last 100 million picks. Locus bots now average over three million selections per day around the world.

Locus has more than 90 customers worldwide, including CEVA Logistics, DHL, Material Bank, Boots UK, GEODIS, Ryder, First Logistics, Radial and more, who continually double and triple their productivity, “with near 100 percent accuracy” using Locus solution.

Also participating in the Series F round were Stack Capital Group, Next47, Stafford Capital Partners, HESTA, Newton Investment Management North America, Gray’s Creek Capital, Silicon Valley Bank, Hercules Capital, BOND and Scale Venture Partners.

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