{"id":10976,"date":"2022-12-07T01:27:29","date_gmt":"2022-12-07T01:27:29","guid":{"rendered":"https:\/\/www.findadistributor.com\/news\/?p=10976"},"modified":"2022-12-01T20:29:15","modified_gmt":"2022-12-01T20:29:15","slug":"117m-funding-for-locus","status":"publish","type":"post","link":"https:\/\/www.findadistributor.com\/news\/117m-funding-for-locus\/","title":{"rendered":"$117m Funding for Locus"},"content":{"rendered":"

Locus Robotics<\/a>, a provider of autonomous mobile robots (AMR) for fulfillment and distribution warehouses, has announced $117 million in Series F funding, led by Goldman Sachs Asset Management and G2 Venture Partners.<\/p>\n

As part of the financing, Mark Midle, Managing Director, Goldman Sachs, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus<\/a> Board of Directors, bringing their unique industry perspectives and insights to further guide Locus<\/a>\u2019s next stage of growth and global expansion.<\/p>\n

\u201cLocus<\/a> has established itself as an innovative, high-quality market leader for flexible automation in the massive warehouse fulfillment and distribution market,\u201d said Mark Midle of Goldman Sachs.<\/p>\n

\u201cOur investment reflects our view that Locus<\/a> has the product offering and the operational excellence required to meet and exceed the market challenges posed by today\u2019s dynamic economic environment.\u201d<\/p>\n

\u201cThis new round of funding marks an important inflection point for Locus Robotics<\/a> as we look toward our next stage of growth, and we strategically chose to bring in investors with a wealth of experience in both public and private markets to advise us as we continue our journey,\u201d said Rick Faulk, CEO of Locus Robotics<\/a>.<\/p>\n

\u201cAs 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.\u201d<\/p>\n

The Locus<\/a> warehouse execution platform disrupts large-scale warehouse fulfillment and distribution with an industry-leading, intelligent, and dynamically scalable robotics-driven solution. Locus<\/a> 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.<\/p>\n

\u201cLocus<\/a> is clearly a winner in the flexible warehouse robotics space, and the consistency with which the Locus<\/a> team has executed is extraordinary,\u201d said Zach Barasz of G2 Venture Partners.<\/p>\n

\u201cWe are thrilled to be investors in Locus Robotics<\/a>, and to partner with the leading warehouse execution company in making global supply chains faster, more cost-effective, and more resilient and sustainable.\u201d<\/p>\n

Robot orchestra<\/strong><\/p>\n

With more than 230 sites under contract around the world \u2013 some having as many as 500 LocusBots per site \u2013 the Locus<\/a> solution efficiently and seamlessly orchestrates the operation and management of multiple robot form factors, and provides forward-looking, real-time business intelligence, critical for optimizing productivity, proactively managing labor, and managing costs.<\/p>\n

\"\"

The Locus warehouse execution platform disrupts large-scale warehouse fulfillment and distribution.<\/p><\/div>\n

\u201cBy 2026, 75% of large enterprises in product-centric businesses will have adopted some form of intralogistics robots in their warehouse operations,\u201d said Dwight Klappich, Analyst, Gartner.<\/p>\n

\u201cThe lower price of entry and faster time to value of robotics opens the market to more companies that can justify automation \u2026 as companies adopt robotics, most organizations will expand and scale their use of robotics within the enterprise, leading to fleet growth.\u201d<\/p>\n

\u201cAs order volumes continue to increase and labor shortages persist worldwide, robotics automation is now a must-have for warehouse operators,\u201d said Ash Sharma, Managing Director, Interact Analysis.<\/p>\n

\u201cLocus<\/a> is uniquely positioned as a leader in digital transformation in this enormous global market as warehouse operators increasingly focus on scalability, fast ROI, and ease of deployment.\u201d<\/p>\n

Locus<\/a> partners with the world\u2019s leading warehouse operators to create a powerful synergy that speeds deployment and delivers powerful, actionable business intelligence to optimize warehouse productivity, cost management, and labor management.<\/p>\n

\u201cOur 5-year partnership with Locus<\/a> has enabled DHL to deliver more resilient, flexible, and scalable supply chain solutions to our customers to support faster delivery, improve operational efficiency, and reduce employee workloads,\u201d said Sally Miller, CIO of DHL Supply Chain North America.<\/p>\n

\u201cIn that time, Locus<\/a>\u2019s ability to integrate groundbreaking technologies into our operations seamlessly and in a targeted way has been a tremendous success for our customers\u2019 supply chains.\u201d<\/p>\n

In September 2022, Locus<\/a> reached a major milestone with its industry-first 1 billionth pick. It took Locus 1,542 days to pick its first 100 million units and just 40 days for the last 100 million picks. Locus<\/a> robots now average more than three million picks per day around the world.<\/p>\n