Cloud Automation Startup Fetch Robotics Secures $46 Million in Series C Funding
Fetch Robotics has made a name for itself for on-demand supply chain automation, particularly as the surging popularity of e-commerce creates a need for companies to keep up with consumer demand.
This week the robotics firm announced that it has raised $46 million in Series C funding. Fort Ross Ventures led the round, while investors CEAS Investments, Redwood Technologies, TransLink Capital and Zebra Ventures participated.
Fetch Robotics’ existing investors – O’Reilly AlphaTech Ventures, Shasta Ventures, Softbank Capital and Sway Ventures – also joined the round. To-date, the company has brought in $94 million in investment capital.
“Customers have responded enthusiastically to our unique Cloud Robotics solution, and we’re responding by securing the funds we need to continue growing and enhancing our offerings.”
“Customers have responded enthusiastically to our unique Cloud Robotics solution, and we’re responding by securing the funds we need to continue growing and enhancing our offerings,” said Melonee Wise, CEO of Fetch Robotics, in a statement. “The competitive pressures for excellence in logistics have never been greater. Our Autonomous Mobile Robots and cloud platform enables our customers to meet their customers’ demands while meeting their own financial objectives.”
Universal Logistics Holdings operates a logistics facility in Smyrna, Tennessee that implements Fetch Robotics’ technology in response to unmet labor needs. The company uses 10 Fetch CartConnect™ robots in addition to 40 carts to automate several key processes in the warehouse.
“In Smyrna as in many markets we serve, we face chronic labor shortages, at times in excess of 10% of our required staff, which puts significant pressure on everyone from the workers on the floor to senior management,” Universal CEO Jeff Rogers said in a statement.
“The Fetch Robotics system provides an answer to our problem. Because the system installs so quickly – we had it fully operational in less than a week – we’re able to boost output and manage our costs,” he added. “And our workers like it because the robots take on the less interesting, more laborious tasks. With Fetch, our employees can focus on the revenue-generating tasks that are more fulfilling and more valuable.”
Fetch plans to use this funding for international expansion, customer growth and for ongoing research and development.