January 7, 2020
Vecna Robotics announces that they have raised $50M in a series B round of funding. The round is led by Blackhorn Ventures, with participation from new investors Highland Capital and Fontinalis Partners, and additional funding from existing investors Drive Capital and Tectonic Ventures. Fontinalis invests in companies who drive innovation across next-generation mobility. Vecna appears to be a nice addition to their portfolio of investments which includes Humatics and Postmates.
Vecna had a breakout year in 2019: signing new customers, expanding their reach and launching new products. Vecna is successfully positioning themselves as a leader in the autonomous mobile robot (AMR) controls market, competing for market prominence against the other two big AMR software vendors: Brain Corp and Bluebotics. Vecna produces a complete AMR control solution with their Pivotal™ platform. Pivotal™ is an AI-based orchestration engine. With Pivotal™, Vecna is able to quickly and easily retro-fit any existing mobile platform for autonomous operation. Examples include fork-truck, tuggers and floor cleaning equipment.
"Vecna Robotics' focus on the Pivotal platform and innovative AMRs to create unprecedented resource productivity for industrial applications is strongly aligned with our investment strategy," said Trevor Zimmerman of Blackhorn Ventures. "We are excited to be a part of their growth."
This round of funding will provide Vecna with the capital to further expand their product line as well as continue to broaden their market reach.
Vecna Robotics' products are helping organizations such as Medline increase efficiency and safety. "Our confidence in the team and its vision for safe, effective human-robot collaboration within a warehouse environment grew as our partnership evolved. This vision supports the future needs of our team members and our customers," said Daniel Schwartz, Regional Vice President of Operations at Medline, a global manufacturer and distributor of medical products, services and solutions. "Vecna Robotics' solution takes a lot of dead travel in our warehouse super-centers out of our team's days so they can focus on more skilled work."
For more information here a link to the press release.