Vecna ​​Robotics Wins $65M in Series C Funding

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Vecna ​​Robotics, a provider of high-capacity autonomous mobile robots (AMR) and related software, today announced a $65 million Series C funding round led by Tiger Global Management, along with additional funding from new investors. Lineage Logistics, Proficio Capital Partners and IMPULSE. The new funding will help fund the company’s technology roadmap with new AMRs and software, and accelerate the fulfillment of new orders and expanded operations to address the $165 billion market opportunity for the autonomy of movement of the pallets, explained the company.

“There is huge room for growth in automated materials handling with more than 5 billion pallets worldwide moved by more than 5 million forklifts and nearly 5 million manual operators,” said Craig Malloy, CEO from Vecna ​​Robotics. “This investment, led by such a large and supportive group of investors, will allow us to accelerate our roadmap and deliver solutions to market faster to meet the insatiable demand for increased throughput in environments. materials handling such as factories and warehouses.”

“Changes in the labor market are accelerating the need for automation throughout the global supply chain. Vecna ​​Robotics is uniquely positioned to help warehousing, manufacturing and distribution companies meet this challenge with truly intelligent automation for pallet-sized loads,” added Griffin Schroeder, Partner at Tiger. GlobalManagement.

The recently closed C-Series cycle will allow Vecna ​​Robotics to continue its development to support end-to-end automated material handling workflows. The funding will also be used to expand the development of Pivotal, a proprietary orchestration engine, to enable better integration with existing warehouse management systems as well as third-party automation solutions.

“Medium to large warehouses and manufacturing facilities are experiencing an undeniable shift in how they manage critical workflows in response to labor shortages and spikes in demand,” said Adam Forste, Executive Co-Chairman of Lineage Logistics. “As an organization with a strong commitment to innovation, we are thrilled to support Vecna ​​Robotics’ mission to intelligently automate the way warehousing and manufacturing companies meet the supply chain’s most important challenges. today’s supply chain, focusing on employee safety and improving the overall efficiency of material handling and throughput operations.”

“We continue to expand our relationship with Vecna ​​Robotics across multiple installations and workflows because of their innovative approach to solving real-world material handling challenges,” said Andy Johnston, senior director of the innovation at GEODIS in America. “For us, the magic of Vecna ​​Robotics’ technology is to maximize our throughput and efficiency, especially during ongoing industry-wide challenges,” he added. “As Vecna ​​Robotics further expands its operational capability and innovation with its latest round of funding, it will help us continue to exceed our customers’ expectations for many years to come.”

Earlier this year, Vecna ​​Robotics announced its Mark 3 software release, which results in the fastest AMR solutions in the industry with speeds of up to 6.7 miles per hour, nearly doubling the throughput capacity. Prior to this funding round, the company added new leadership with the hiring of Craig Malloy as CEO, the appointment of former CEO and company founder Daniel Theobald as Chief Innovation Officer and the arrival of Josh Kivenko as the new CMO of Vecna ​​Robotics. .

Current investors in Vecna ​​Robotics include Blackhorn Ventures, Highland Capital Partners, Tectonic Ventures, Drive Capital and Fontinalis Partners.

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