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WILMINGTON, Mass., Nov. 29, 2022/PRNewswire/ -- Locus Robotics, a leader in autonomous mobile robots (AMR) for warehouse fulfillment and distribution, today announced more than $117 million in F-Series funding, led by Goldman Sachs Asset Management and G2 Venture Partners. As part of the funding, Mark Middle, CEO of Goldman Sachs, and Zach Barasz, Partner at G2 Venture Partners, will join Locus' Board of Directors, bringing their unique industry insights and perspectives to the to continue to guide the next stage of growth and global expansion for Locus.
"Locus has established itself as a high-quality, innovative market leader for flexible automation in the mass warehouse distribution and fulfillment market," said Mark Midle of Goldman Sachs. "Our investment reflects our belief that Locus has the product offering and operational excellence to meet and overcome the market challenges posed by today's dynamic economic environment."
"This new round of funding marks a significant turning point for Locus Robotics as we look to our next stage of growth, and we strategically chose to bring in investors with deep experience in the public and private markets to advise us as we continue our journey," said Rick Faulk. , CEO of Locus Robotics. "As the rapid digital transformation of the supply chain continues, warehouses are increasingly looking to flexible and intelligent robotic automation to improve productivity and grow their operations, despite continued labor shortages and exploding of order volumes.
The Locus Warehouse Execution Platform revolutionizes large-scale warehouse fulfillment and distribution with an industry-leading, intelligent and dynamically scalable solution powered by robotics. Locus delivers 2X-3X productivity by seamlessly coordinating both human labor and AMRs to dramatically improve order fulfillment efficiency and workplace ergonomics while lowering operating costs.
"Locus is clearly a winner in the flexible warehouse robotics space, and the consistency with which the Locus team has executed is extraordinary," said Zach Barasz of G2 Venture Partners. We are delighted to be an investor in Locus Robotics and to partner with the leading warehouse execution company to make global supply chains faster, more profitable, and more resilient and sustainable."
With over 230 contracted sites worldwide, some with up to 500 LocusBots per site, the Locus solution seamlessly and efficiently orchestrates the operation and management of multiple robot form factors, and provides intelligence Forward-thinking, real-time business intelligence critical to optimizing productivity, proactively managing labor, and managing costs.
"By 2026, 75% of large product-focused companies will have adopted some form of intralogistics robots in their warehouse operations," said Dwight Klappich, a Gartner analyst. "The lower price of entry and faster time-to-value of robotics opens the market up to more companies that can justify automation...as companies adopt robotics, most organizations will expand and scale their use of robotics within the company, which will lead to the growth of the fleet."
"As order volumes continue to rise and labor shortages persist around the world, robotic automation is now a necessity for warehouse operators," said Ash Sharma, CEO of Interact Analysis. "Locus is uniquely positioned as a digital transformation leader in this huge global market as warehouse operators increasingly focus on scalability, rapid ROI and ease of deployment."
Locus partners with the world's leading warehouse operators to create a powerful synergy that speeds implementation and delivers powerful, actionable business intelligence to optimize warehouse productivity, cost management and labor management.
"Our 5-year partnership with Locus has enabled DHL to offer more resilient, flexible and scalable supply chain solutions to our customers to support faster delivery, improve operational efficiency and reduce employee workload," said Sally Miller, intelligence officer for DHL Supply Chain North America. During this time, Locus' ability to integrate innovative technologies into our operations in a transparent and targeted way has been a great success for our customers' supply chains."
In September 2022, Locus reached a major milestone with its first billion-unit selection in the industry. It took Locus 1,542 days to pick up its first 100 million units and just 40 days for the last 100 million pickups. Locus robots now perform an average of more than three million picks a day around the world.
Locus has more than 90 customers around the world, including CEVA Logistics, DHL, Material Bank, Boots UK, GEODIS, Ryder, Verst Logistics and Radial, among others, consistently doubling and tripling their fulfillment productivity, with an accuracy close to 100%, using the Locus solution.
Also participating in the Series F 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.
About Locus Robotics
Locus Robotics' revolutionary multibot solution incorporates powerful and intelligent autonomous mobile robots that operate in collaboration with human workers to dramatically improve part, case, and pallet handling productivity by 2-3 times, while optimizing hand handling. site and efficient use of warehouse space is made. Locus helps retailers, 3PLs, and specialty stores to effectively meet and exceed the increasingly complex and demanding requirements of distribution environments. By easily integrating into new and existing large-scale warehouse infrastructures without disrupting workflows, Locus transforms productivity without transforming the warehouse.
Headquartered in Wilmington, Massachusetts, Locus's EMEA presence is located in Amsterdam and APAC's in Singapore.
In 2022 alone, Locus Robotics has won more than 17 industry awards, including being named to the Inc. 500 list for the second year in a row and a 2022 IFOY Award for its Autonomous Mobile Robot Solution in the Guided Vehicle category. automatic (AGV/AMR).
Acerca de Goldman Sachs Asset Management Growth Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management offers clients around the world a dedicated partnership focused on long-term performance. As the principal investment arm of Goldman Sachs (NYSE: GS), we provide investment and advisory services to the world's leading institutions, financial advisers and individuals, leveraging our deeply connected global network and tailored expertise, across all regions and countries. markets, and overseeing more than $2 trillion in assets under supervision worldwide as of September 30, 2022. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable results and shared success over time. Goldman Sachs Asset Management invests across the full spectrum of alternative assets, including private equity, growth capital, private credit, real estate and infrastructure. Since 2003, the Growth Equity business within Goldman Sachs Asset Management, made up of more than 75 people, has invested more than $13 billion in companies led by visionary founders and CEOs. We focus exclusively on investments in technology-driven, growth-stage companies that span multiple sectors, including enterprise technology, fintech, consumer and healthcare. Follow us on LinkedIn.
About G2 Venture Partners
G2 Venture Partners is a venture and growth firm focused on emerging technologies driving sustainable transformation in traditional industries. We support entrepreneurs who are opening new paths towards environmentally and socially responsible economic growth. More information at www.g2vp.com and contact the team at info@g2vp.com.
*Gartner, Market Guide for Intralogistics Smart Robots, 18 de abril de 2022, Dwight Klappich
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