Looks like Locus Robotics is knocking while the iron is hot. Seven months after raising a major $ 150 million Series E, Tiger Global is investing an additional $ 50 million in the Massachusetts firm. The latest round turned Locus into a unicorn, and this one brings the company’s total funding to around $ 300 million.
Locus specializes in warehouse and fulfillment robotics, creating a more modular solution that does not require the type of “base build” of a Berkshire Gray. The company’s approach is closer to that of Fetch, which was acquired by Zebra Technologies in July. Locus seems ideal for an acquisition from a logistics company or retailer struggling with Amazon’s monolith.
On the other hand, continuous funding cycles seem to indicate that a company is looking to continue to go it alone.
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CEO Rick Faulk confirmed this with me in February, saying, “We have no interest in being acquired. We believe that we can create the greatest and the greatest value by operating independently. There are investors who want to invest to help those who are not named “Amazon” compete. “
Faulk adds this morning that the new funds are a sort of validation for Locus. They are certainly another sign of an accelerated interest in automation amid the pandemic. “In an era of increasing volumes and continuing labor shortages, this new funding round highlights how flexible, scalable and intelligent robotic automation has become critical for the warehouse and supply chain. », Declared the leader. “Locus is ideally positioned to drive digital transformation in this huge global market. “
The funding will be used to further expand Locus’ global operations.