Fetch Robotics lands $46 million in funding
Series C round will fund research and development, international expansion to meet growing interest in the company's on-demand automation solution, company leaders say.
Logistics technology provider Fetch Robotics has raised $46 million in a Series C round of funding and announced plans to use the capital to expand internationally and further develop its automation solutions, the company said today.
Led by Fort Ross Ventures, the round also included support from CEAS Investments, Redwood Technologies, TransLink Capital, and Zebra Ventures, with participation from the firm's existing investors, as well. The San Jose, Calif.-based company has raised $94 million to date in support of its mobile robots and cloud robotics solution, the company said.
"Customers have responded enthusiastically to our unique Cloud Robotics solution, and we're responding by securing the funds we need to continue growing and enhancing our offerings," CEO Melonee Wise said in a prepared statement. "The competitive pressures for excellence in logistics have never been greater. Our Autonomous Mobile Robots and cloud platform enables our customers to meet their customers' demands while meeting their own financial objectives."
Third-party logistics provider RK Logistics Group and transportation provider Ryder System Inc. are among the large companies that have implemented Fetch Robotics technology recently. Another firm joining their ranks is transportation and logistics solutions provider Universal Logistics Holdings, Inc., which recently deployed the Fetch Cloud Robotics Platform in its one-million square-foot, Smyrna, Tenn., logistics facility, according to Fetch Robotics. The facility serves the nearby Nissan Motors plant, the largest auto manufacturing facilty in North America.
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