Locus Robotics, a provider of autonomous mobile robots for fulfillment warehouses, has secured $50 million in additional funding from existing investor Tiger Global Management.
The funds will be used 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.
Rick Faulk, CEO of Locus Robotics, says: “At a time of increasing volumes and ongoing labor 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 additional funding adds to the investment made by Tiger Global in Locus’s Series E round in February.
Griffin Schroeder, partner, Tiger Global, says: “We are impressed by Locus Robotics’ proven technology, flexible design, and customer obsession.
“As their warehouse partners face rapidly growing e-commerce volumes, rising labor costs, and increasingly demanding customers, Locus will be ready to provide solutions that work.”