TLDR: Vecna Robotics has raised another $40 million in venture funding to develop new robots for warehousing and distribution tasks. The company’s “series C” round now totals $100 million, nearly doubling its valuation. The funds will be used for workflow-specific innovations to improve warehouse operations and deliver rapid ROI to warehouse operators.
Material handling automation vendor Vecna Robotics has raised another $40 million in venture funding to fuel its plans to expand ground-to-ground and low-lift workflow capabilities and develop new robots for tasks in warehousing and distribution. The firm’s “series C” fundraising round, totaling $100 million, saw investments from Tiger Global Management, Proficio Capital Partners, and IMPULSE, nearly doubling the company’s valuation.
The company plans to use the funds to develop new workflow-specific innovations that improve warehouse operations and deliver rapid ROI to cost-conscious warehouse operators. Over the past year, Vecna has seen significant performance improvements in ground-to-ground warehouse workflows like case picking, packaging, and cross-docking for customers like GEODIS, FedEx, Caterpillar, and Shape.
In addition to the funding announcement, Vecna also named a new chief operating officer, Michael Helmbrecht, who will oversee operations, manufacturing, IT, product, and customer success to support the company’s rapid expansion.
