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Locus Robotics lands $117 million venture backing in “series F” round

Investment will accelerate rollout of fulfillment robots beyond current installation at some 230 sites, Massachusetts firm says.

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Supply Chain Quarterly Staff
By Supply Chain Quarterly StaffNov 29, 2022
Supply Chain Quarterly Staff
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Warehouse automation provider Locus Robotics has landed a hefty $117 million in backing to accelerate the rollout of its autonomous mobile robots (AMRs) for warehouse fulfillment and distribution applications, the company said today. 

The funding comes as Locus already counts more than 90 customers worldwide, and its robots are installed at more than 230 sites, including some with as many as 500 LocusBots in a single facility.

"As 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," Locus CEO Rick Faulk said in a release.

The “series F” round was led by Goldman Sachs Asset Management and G2 Venture Partners. As part of that financing, Mark Midle, managing director at Goldman Sachs, and Zach Barasz, partner at G2 Venture Partners, will join Locus’ board of directors.

Also participating in the round were Stack Capital Group, Next47, Stafford Capital Partners, HESTA, Newton Investment Management North America, Gray's Creek Capital, Silicon Valley Bank, Hercules Capital, Inc., BOND, and Scale Venture Partners. The latest funding follows a $50 million round in 2021, and brings Wilmington, Massachusetts-based Locus’ corporate valuation close to $2 billion.


 

 

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