Plus One Robotics raises $33 million for logistics vision system
Backing will help firm meet global e-commerce expansion with technology that delivers “hand-eye coordination” for warehouse bots.
Warehouse robotic automation startup Plus One Robotics Inc. will use a $33 million venture capital round to meet the global boom in e-commerce by boosting its expansion in the U.S. and Europe and driving product development of its vision software for logistics robots, the firm said today.
The “series B” round was led by McRock Capital and Translink Capital, with additional participation from BMW i Ventures, Kensington Capital Partners, Perot Jain, and Ironspring Ventures, as well as existing investors CEAS, Lerer Hippeau, Pritzker Group Venture Capital, and Zebra Ventures.
Following the investment, Plus One’s board of directors will add Whitney Rockley of McRock Capital and Toshi Otani of Translink Capital.
San Antonio, Texas-based Plus One says its 3D and AI-powered vision software, PickOne, works with any robot, gripper, and cloud service to deliver precise hand-eye coordination, enabling robots to perform a range of warehouse tasks. The firm’s “Yonder” software leverages human intelligence to handle exceptions for the variety of items passing from dock to door. That combination enables one human worker to manage up to 50 robots remotely, allowing companies to meet the demands of the 24/7 consumer, Plus One said.
The investment follows twin 2018 rounds of $2.35 million and $8.3 million, raised the same year the firm released its first commercial product for logistics piece-picking applications for the order-fulfillment and parcel-shipping markets.
“We believe that Plus One Robotics' technology will usher in a new era of smart, adaptive robot systems to bring automation to new heights across supply chain, logistics and manufacturing,” Kasper Sage, Partner at BMW i Ventures, said in a release. “The beauty of Plus One's technology is that it combines state-of-the-art computer-vision algorithms with a human-in-the-loop approach, enabling robots to operate at accuracy and throughput levels currently unmatched in the industry. This truly is the start of a new era of robotics-driven automation.”
#boom We are expanding! Thrilled to announce our B round today, the funding will fuel our growth in the US and internationally. Thank you to our existing and our new investors! Here's to the future. #robotsworkpeoplerule #venturecapital #logistics https://t.co/ABf6AjZEKL
— Plus One Robotics (@PlusOneRobotics) April 27, 2021