Fetch Robotics, which develops autonomous mobile robots, has garnered US$25m in investment for its Series B round of funding.
The round was led by Sway Ventures, with participation from existing investors O’Reilly AlphaTech Ventures, Shasta Ventures and SB Group US. The new investment brings Fetch Robotics’ total funding to date to US$48m.
The Fetch Robotics platform combines mobile robots with a cloud-based software system. The Freight series of autonomous mobile robots (AMR) support multiple applications, with a particular use for the warehouse and logistics industries.
Melonee Wise, CEO of Fetch Robotics, commented, “We are seeing first-hand that the growth in e-commerce and an expanding on-demand economy are contributing to unprecedented labor challenges faced by the US$5tn global logistics industry.
“With labor in short supply, our customers are still able to quickly realize significant, measurable productivity increases by deploying our autonomous mobile robots.”
The AMRs require no software installation or changes to the facility they will be placed within. After a single drive-through, the FetchCore software builds a map of the facility that all robots use for navigation, allowing them to travel quickly and efficiently. AMRs use onboard intelligence to avoid obstacles and ensure safety, adapting as they go and sharing what they learn.
Brian Nugent, founding general partner at Sway Ventures, said, “The warehouse and logistics automation market is estimated at over US$40bn today, and is poised to double over the next five years. Our investment in Fetch complements and extends our portfolio of exceptional leaders who are transforming the global supply chain.”
December 12, 2017
