We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Vecna Robotics reloads with $65 million venture round for AMRs and software

Vecna Robotics reloads with $65 million venture round for AMRs and software

Firm sets sights on growing market for pallet-moving automation.

vecna FI_t1zhXIBE-Bes.jpeg
January 26, 2022
Supply Chain Quarterly Staff
No Comments

Backed by $65 million in new funding, the material handling automation vendor Vecna Robotics plans to develop new autonomous mobile robots (AMRs) and software to address a growing market opportunity for pallet-moving automation, the firm said today.

Waltham, Massachusetts-based Vecna said the “series C” round was led by Tiger Global Management, along with additional funding from new investors Lineage Logistics, Proficio Capital Partners, and IMPULSE. It comes after a $50 million round in 2020.

The fresh venture capital follows a recent shift in company management, as Vecna in June 2021 hired Craig Malloy to become CEO, moved the previous CEO and founder, Daniel Theobald, to the role of Chief Innovation Officer, and added Josh Kivenko as its new CMO.

Stocked with new financing and leadership, the company is now aligned to help its clients meet supply chain challenges like the tight employment market, backers said. "Shifts in the labor market are accelerating the need for automation throughout the global supply chain. Vecna Robotics is very well-positioned to help companies in warehousing, manufacturing, and distribution meet this challenge head-on with truly intelligent automation for pallet-sized loads," Griffin Schroeder, partner at Tiger Global Management, said in a release.

Toward that end, Vecna in 2021 announced its Mark 3 software release, which allows its AMRs to cruise at speeds of up to 6.7 miles per hour, nearly doubling their throughput capacity and setting a record as the industry’s fastest AMR solutions, the company said.

The recently closed “series C” round will now allow Vecna to further its development to support end-to-end automated material handling workflows, the firm said. The funding will also be used to extend the company’s development of Pivotal, a proprietary orchestration engine, to enable better integration with existing warehouse management systems as well as third-party automation solutions.

 “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,” Vecna CEO Craig Malloy said in a release. “This investment, led by such a prominent and supportive group of investors, will allow us to accelerate our roadmap and deliver solutions to the market faster in order to meet the insatiable demand for increased throughput in material handling environments like factories and warehouses.”

Technology Warehousing
KEYWORDS Vecna Robotics
  • Related Articles

    Locus Robotics lands $117 million venture backing in “series F” round

    Locus Robotics collects $50 million in new funding for AMRs

    Grocery robot vendor Fabric grows fast with $200 million venture round

Recent Articles by Supply Chain Quarterly Staff

Energy price swings pressure businesses to change their spending priorities

Maersk’s VC arm backs inventory drone startup Verity with $32 million

Survey: most Americans unaware that truckers face shortage of parking spaces

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Survey: most Americans unaware that truckers face shortage of parking spaces

  • Postal Service plans to seize items mailed with fake stamps

  • Best practices in logistics sustainability

  • Supply chain executives not yet seeing expected results from technology investments

  • Inflation drops again as interest rate hikes hit home, NRF says

Featured Video

20221107korber large vs

Enhancing Customer Experience with Your Supply Chain Strategy

Viewer Contributed
With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

FEATURED WHITE PAPERS

  • Guide to Pallet Rack Safety

  • 3PLs: Complete Orders Faster with Flexible Automation

  • A shipper's guide to navigating post-pandemic holiday freight

  • THE NEW WAY TO WAREHOUSE: 4 Innovations in Automation & Robotics to Boost Warehouse Productivity

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing