Locus Robotics raises $117m funding
The series F funding brings the robotics leader’s valuation close to $2 billion.
THE FUNDING has been led by Goldman Sachs Asset Management and G2 Venture Partners. As part of the financing, Mark Midle, managing director, Goldman Sachs, and Zach Barasz, partner, G2 Venture Partners, will join the Locus Board of Directors.
Midle said: “Locus has established itself as an innovative, high-quality market leader for flexible automation in the massive warehouse fulfilment and distribution market. Our investment reflects our view that Locus has the product offering and the operational excellence required to meet and exceed the market challenges posed by today’s dynamic economic environment.”
With more than 230 sites under contract around the world – some having as many as 500 LocusBots per site – the Locus solution orchestrates the operation and management of multiple robot form factors.
“This new round of funding marks an important inflection point for Locus Robotics as we look toward our next stage of growth,” added Rick Faulk, CEO of Locus Robotics.
Gartner analyst Dwight Klappich sets the scene: “By 2026, 75% of large enterprises in product-centric businesses will have adopted some form of intralogistics robots in their warehouse operations. The lower price of entry and faster time to value of robotics opens the market to more companies that can justify automation … as companies adopt robotics, most organisations will expand and scale their use of robotics within the enterprise, leading to fleet growth.”
For more information, visit www.locusrobotics.com
