Locus Robotics Raises $26 Million in New Funding Round
By Paul Page
April 22, 2019 6:45 a.m. ET
Locus Robotics Corp. raised $26 million in a Series C funding round that will help the warehouse automation company expand the reach of its robots, which help speed up the fulfillment of e-commerce orders, into international markets.
The round increased to $66 million the funding the Wilmington, Mass.-based company has raised since the business was spun out in 2015 from Quiet Logistics Inc. The new funding came from investors including Zebra Ventures, the strategic investment arm of logistics technology firm Zebra Technologies Corp. , and Scale Venture Partners, which led the company’s last funding round in 2017.
Locus Chief Executive Rick Faulk said the company would use the new funding to extend the company’s business, which has placed robots with customers in the U.S. including Deutsche Post AG’s DHL and France-based logistics provider Geodis, into Europe and develop “next-generation robots.”
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