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Locus Robotics raises $150m and hits $1bn valuation

Written by

Neil Martin

Neil Martin

US company Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfillment warehouses, has closed a $150 million Series E funding round, valuing it at a billion dollars.

The round was led by Tiger Global Management and BOND. 

The existing investors include Scale Venture Partners and Prologis Ventures, the venture capital arm of Prologis.

"This new round of funding marks an important inflection point for Locus Robotics," said Rick Faulk, CEO of Locus Robotics. "Warehouses facing ongoing labor shortages and exploding volumes, are looking for flexible, intelligent automation to improve productivity and grow their operations. Locus is uniquely positioned to drive digital transformation in this enormous global market."

Locus will use the new dosh to expand its market opportunities around the globe and support ongoing R&D to grow and enhance its warehouse technology solution.

"Locus's innovative mix of proven technology, flexible design, and seamless scalability makes it an ideal choice to lead the digital transformation of the warehouse," said Griffin Schroeder, Partner at Tiger Global. "Facing rapidly growing ecommerce volumes, rising labor costs, and increasingly demanding customers, warehouse operators are seeking an automation solution that is flexible, scalable, and just works."

"The Locus solution unlocks substantial productivity gains, while significantly lowering expenses, improving employee morale, and providing customers with unmatched visibility into warehouse operations," said Jay Simons, a general partner at BOND. "The platform is powerful enough to meet – and exceed – warehouse operators' needs today, tomorrow, and in the months and years to come."

In a market of more than 20 billion square feet of warehouse space worldwide, and rising e- commerce volume, Locus helps operators meet the industry's growing demand, whilst aiming to manage today's unpredictable volume shifts. 

Locus currently serves more than 40 customers and 80 warehouses around the world with its industry-leading solution. LocusBots have picked more than 300 million units, including 70 million units during the recent holiday season.

Locus customers worldwide include CEVA Logistics, DHL, Material Bank, Boots UK, GEODIS, Port Logistics Group, Verst Logistics and Radial.

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Locus will use the new dosh to expand its market opportunities around the globe and support ongoing R&D to grow and enhance its warehouse technology solution.

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