Funding helps Locus Robotics’ global expansion

Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfilment warehouses, has secured $50m in additional funding from existing investor Tiger Global Management to facilitate continued growth and expansion into new markets around the globe, and more effectively meet the needs of its growing customer and partner ecosystem.

It is the second major funding announcement this year, following the $150m in series E funding announced in February 2021.

“At a time of increasing volumes and ongoing labour shortages, this new round of funding underscores how critical flexible, scalable, intelligent robotics automation has become to the warehouse and the supply chain,” said Rick Faulk, CEO of Locus Robotics.

“Locus is uniquely positioned to drive digital transformation in this enormous global market.”

“We are impressed by Locus Robotics‘ proven technology, flexible design, and customer obsession,” said Griffin Schroeder, Partner, Tiger Global. “As their warehouse partners face rapidly growing e-commerce volumes, rising labour costs, and increasingly demanding customers, Locus will be ready to provide solutions that work.”

The post Funding helps Locus Robotics’ global expansion appeared first on Logistics Business® Magazine.

Funding helps Locus Robotics’ global expansion

Posted by SHREE SAI PACKER AND MOVERS BANGALORE

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