Faster global expansion
12 October 2021
LOCUS ROBOTICS has secured $50 million in additional funding from existing investor Tiger Global Management to facilitate continued growth and expansion into new markets around the globe, and more effectively meet the needs of its growing customer and partner ecosystem.
It is the second major funding announcement this year, following the $150 million in series E funding announced in February.
Locus Robotics CEO Rick Faulk said: “At a time of increasing volumes and ongoing labour shortages, this new round of funding underscores how critical flexible, scalable, intelligent robotics automation has become to the warehouse and the supply chain.
“Locus is uniquely positioned to drive digital transformation in this enormous global market.”
This latest funding adds to the investment made by Tiger Global in Locus’s series E round in February.
Tiger Global partner Griffin Schroeder said: “We are impressed by Locus Robotics' proven technology, flexible design, and customer obsession. As their warehouse partners face rapidly growing e-commerce volumes, rising labour costs, and increasingly demanding customers, Locus will be ready to provide solutions that work.”
Locus Robotics also recently acquired Waypoint Robotics, and established a new European HQ in Amsterdam.
For more information, visit www.locusrobotics.com