Fetch Robotics (San Jose, California, US), which develops and manufactures collaborative AMR (Autonomous Mobile Robot) solutions for the warehousing and intralogistic markets, has raised $25m in Series B funding.
The round was led by Sway Ventures with participation from existing investors O’Reilly AlphaTech Ventures, Shasta Ventures and SB Group US (“Softbank”). The Series B round brings Fetch Robotics’ total funding to date to $48m. The new capital will be used to meet accelerating worldwide customer demand for Fetch Robotics’ unique approach to delivering intralogistic technologies and systems.
CEO of Fetch Melonee Wise said: “We are seeing first-hand that the growth in e-commerce and an expanding on-demand economy are contributing to unprecedented labor challenges faced by the $5 trillion global logistics industry. With labor in short supply, our customers are still able to quickly realize significant, measurable productivity increases by deploying our Autonomous Mobile Robots.”
The Fetch Robotics Platform combines the industry’s broadest line of mobile robots with a cloud-based software system. The Freight series of Autonomous Mobile Robots (“AMRs”) support multiple applications, including material transport systems and automated data collection.
Founding General Partner at Sway Ventures Brian Nugent said: “The warehouse and logistics automation market is estimated at over $40 billion today, and is poised to double over the next five years. Our investment in Fetch complements and extends our portfolio of exceptional leaders who are transforming the global supply chain.”
Nugent joins the Fetch Robotics’ board of directors who are Bryce Roberts from O’Reilly AlphaTech Ventures, Rob Coneybeer from Shasta Ventures, Lydia Jett from Softbank, Steve Hogan from Tech-Rx, and Fetch Robotics CEO Melonee Wise.