Vecna Robotics, a provider of robotic material handling automation, has raised $65 million in its Series C funding round led by Tiger Global Management, along with additional funding from new investors Lineage Logistics, Proficio Capital Partners, and Impulse.
The new financing will help fund the company’s technology roadmap with new autonomous mobile robots (AMR) and software, and will accelerate fulfillment of new orders and expanded operations to address the $165 billion market opportunity for pallet-moving autonomy.
Craig Malloy, CEO of Vecna Robotics, says: “There is huge headroom for growth in automated material handling with over 5 billion pallets in the world being moved by more than 5 million forklifts and nearly 5 million manual operators. [Read more…] about Vecna Robotics raises $65 million in Series C funding