Vecna ​​Robotics closes $100 million C funding round to optimize and automate warehouse workflows

Investments to expand floor-to-floor and low-lift workflow capabilities and develop new robots; Company announces new Chief Operating Officer

WALTHAM, Mass., June 20, 2024–(BUSINESS WIRE)–Vecna ​​Robotics, the leading provider of flexible automation solutions for material handling, today announced the closing of its $100 million Series C financing round, including $40 million in new funding, including equity and debt, nearly doubling the company’s valuation from the previous round. Tiger Global Management, Proficio Capital Partners and IMPULSE participated in the round.

The capital injection will be used to fund new workflow-specific innovations that will enable the company to deliver rapid ROI to cost-conscious warehouse operators in the $165 billion autonomous pallet movement market. To support its rapid expansion, the company also announced the appointment of Michael Helmbrecht as Chief Operating Officer.

“Completing this capital raise with the help of our existing investors and a new financing partner is a tremendous validation that we are on the right track,” said Craig Malloy, CEO of Vecna ​​Robotics. “With fresh capital, we have the balance sheet to help us drive growth with our existing customers through improved product performance and the introduction of new automation technology that will fundamentally transform material handling in warehousing and distribution.”

Last year, the company combined cloud software updates and investments in its Pivotal^TM Command Center is designed to help customers such as GEODIS, FedEx, Caterpillar, Shape and others achieve performance improvements of up to 70% in warehouse workflows such as picking, packing and cross-docking. In addition to these improvements, the capital injection will also support the launch of innovative next-generation platforms that will give the company greater flexibility in deployment and reach new, high-demand workflows, while enabling it to deliver cost savings for operators from day one.

“GEODIS has been working with Vecna ​​Robotics to develop a new, groundbreaking case picking solution that nearly doubles performance,” said Andy Johnston, Senior Director of Innovation at GEODIS. “We are counting on this latest capital injection into the company to accelerate the development and launch of a complete, market-ready offering that can be deployed immediately.”

Helmbrecht will play a key role in these initiatives, overseeing operations, manufacturing, IT, product and customer success to ensure the company continues to meet its customer-defined performance guarantees. A former executive at Dell, Lifesize and Ring Central, Helmbrecht brings nearly 20 years of operations, product and partnership experience to Vecna ​​Robotics. He joins the company after a year of growth that included triple-digit revenue growth, over 100% increase in deployments and the successful announcement of an industry-leading performance guarantee.

The story goes on

To learn more about Vecna ​​Robotics, visit www.vecnarobotics.com.

About Vecna ​​Robotics

Vecna ​​Robotics is an award-winning flexible, intelligent material handling automation company with solutions designed for seamless collaboration between autonomous mobile robots (AMR) and the workforce, equipment, facilities and systems that keep business running. Our self-driving forklifts, pallet trucks and tugs – powered by Vecna’s Pivotal™ orchestration software and a 24/7/365 command center – help distribution, warehouse and manufacturing companies realize immediate cost savings by automating their key workflows and maximizing throughput at scale. For more information, visit www.vecnarobotics.com. Follow us on Þjórsárden and LinkedIn.

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contacts

Jason Vancura
fama PR for Vecna ​​Robotics
Phone: (617) 986-5041