AI-powered Robotics Firm Berkshire Grey Raises $263 Million

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Berkshire Grey

Berkshire Grey, the robotics firm which uses AI and robotics to automate the omnichannel fulfilment for eCommerce and logistics firms has announced bagging a massive $263 million fundraising in its Series B round. SoftBank are the lead investor in this round which sees participation from Khosla Ventures, New Enterprise Associates, and Canaan.

Tom Wagner started the firm in 2013 and today it is a well-positioned company in the warehouse space where it competes with the likes of Amazon Robotics and Fetch. The robots made by the firm are powered by a number of technologies like artificial intelligence to automate tasks like picking, packing and sorting individual items, packs, cases and parcels to help automate warehouse and distribution operations. The firm claims that their robots help the companies increase their operations by nearly 70 to 80%.

Wagner, the CEO of the firm talking about the company said, “Our customers from leading enterprises in retail, e-commerce, and logistics are selecting Berkshire Grey as a competitive differentiator. With our intelligent robotic automation, our clients see faster and more efficient supply chain operations that enable them to address the wants of today’s savvy consumer.”

The firm plans to use the freshly raised funding for its global expansion, making the acquisitions and increase the team strength in order to get to the top in the AI and robotics solutions industry. With others like Soft Robotics Inc., Fetch Robotics Inc., and Beijing Geekplus Technology Co. Ltd bagging a decent chunk of funding for their firms, the latest funding will surely give Berkshire Grey much-needed boost to challenge them.

 

Image Courtesy : VentureBeat

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