Locus Robotics bags $117m in Series F funding, closes in on $2bn valuation
Locus Robotics, a specialist in autonomous mobile robots for fulfilment and distribution warehouses, has secured more than $117 million in Series F funding, led by Goldman Sachs Asset Management and G2 Venture Partners.
As part of this, Mark Midle, Managing Director, Goldman Sachs, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus board of directors.
The funding round brings its valuation close to $2 billion.
"Locus has established itself as an innovative, high quality market leader for flexible automation in the massive warehouse fulfilment and distribution market," says Mark Midle of Goldman Sachs.
"Our investment reflects our view that Locus has the product offering and the operational excellence required to meet and exceed the market challenges posed by today's dynamic economic environment."
"This new round of funding marks an important inflection point for Locus Robotics as we look toward our next stage of growth, and we strategically chose to bring in investors with a wealth of experience in both public and private markets to advise us as we continue our journey," says Rick Faulk, CEO at Locus Robotics.
"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 labour shortages and exploding order volumes."
"Locus is clearly a winner in the flexible warehouse robotics space, and the consistency with which the Locus team has executed is extraordinary," says Barasz.
"We are thrilled to be investors in Locus Robotics, and to partner with the leading warehouse execution company in making global supply chains faster, more cost-effective, and more resilient and sustainable."
Locus counts more than 90 customers worldwide, including CEVA Logistics, DHL, Material Bank, Boots UK, GEODIS, Ryder, Verst Logistics, and Radial.
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, BOND, and Scale Venture Partners.
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