Locus Robotics’ Latest Funding Round Values Company at Nearly $2B

The autonomous warehouse robotics company achieved unicorn status last year, as its robots see increased deployment

Scarlett Evans, Assistant Editor, IoT World Today

December 5, 2022

2 Min Read

Locus Robotics recently closed its series F funding with more than $117 million, bringing its total valuation to just under $2 billion.

The company’s pipeline of autonomous mobile robots (AMRs) is designed for use in fulfillment and distribution centers, and the investment raised to date will be used to continue expanding its market reach as digitization of supply chains continues to be seen across industries.

“This new round of funding marks an important inflection point for Locus Robotics as we look toward our next stage of growth,” said Rick Faulk, Locus Robotics CEO. “As the rapid digital transformation of the supply chain continues, warehouses increasingly seek flexible, intelligent robotics automation to improve productivity and grow their operations, despite ongoing labor shortages and exploding order volumes.”

The latest round was led by Goldman Sachs Asset Management and G2 Venture Partners.

“Locus is clearly a winner in the flexible warehouse robotics space,” said Zach Barasz of G2 Venture Partners. “We are thrilled to be investors in Locus Robotics, and to partner with the leading warehouse execution company in making global supply chains faster, more cost-effective, and more resilient and sustainable.”

The company reached unicorn status last February when it turned its attention to ramping up its presence in Europe and the U.K. Now, Locus has more than 230 sites globally, with some using more than 500 LocusBots per site. Customers include DHL, Boots UK, and CEVA Logistics, to name a few.

Locus unveiled two new robots in April, Max and Vector. The company’s AMRs are designed to move goods between picking sites, and each is fitted with a tablet interface that works in 21 different languages.

The news also follows Locus’ major milestone achievement in September, with its industry-first 1 billionth pick. 

About the Author(s)

Scarlett Evans

Assistant Editor, IoT World Today

Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.

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