Published on : Apr 05, 2018
Robotics has been the harbinger of a new wave of automation in a range of industry verticals. One of the areas where robots and the related automation technologies caused paradigmatic shift is the e-commerce industry. World over, warehouses and distribution centers have been at the fore for harnessing potential benefits of automation by deploying robots. A spectrum of businesses-retailers, firms, and logistics companies-riding high on the wave of a booming online shopping are generously investing in warehouse robotic systems. While there is no dearth of investment from stalwarts such as Amazon, Knapp, SSI Schaefer, and Dematic, who keep innovating their automation products and services, startups aren’t left behind in the race. In a recent development, 6 River Systems, a Waltham, Massachusetts-based startup, announced on April 4, 2018, that it has secured $25Mn in Series B funding round. The funding is led by Menlo Ventures, with notable participation from venture capital firms such as iRobot Corporation, Eclipse, and Norwest Venture Partners.
Start-up Gained Prominence with Deploying of Chuck, its Warehouse Collaborative Fulfillment Robot
The funds raised will be used for getting a firm foothold in the warehouse robotics market and gain a competitive edge over its rivals. In recent months, there have been a series of venture capital funding (Series B round) secured by providers of cutting-edge autonomous mobile robotics solutions such as Locus Robotics, Fetch Robotics, Vecna Robotics, and NextShift Robotics. The recent funding secured by 6 River Systems has raised the ante higher in the mobile warehouse robotics market.
According to 6 River Systems it has gained traction in the market with its flagship product, Chuck, a collaborative fulfillment, mobile robot deployed by customers to help warehouse workers in picking and packaging operations.
Funds to be used for building on Decision Support Systems
The start-up will use this fund to rope in over 80 employees in the next 12 month. Plus, the funds will be used for bolstering its decision support systems for warehouse robotics and bring technology advancement by developing its own software. According to startup, robots by 6 River have been deployed by third-party logistics and several big retailers, helping them in tasks such as packaging medical supplies and retail products.
6 River has categorically stated that the warehouse robotics technologies it is developing will enhance collaboration between machines and humans and help end users in various industries grapple with the problem of labor shortage.