OSARO Inc, a supplier of superior robotic automation for logistics, has introduced the completion of a collection C funding spherical led by Octave Ventures. The brand new spherical brings OSARO’s complete funding up to now to $67.5 million.
New traders embody Octave Ventures, J17 Capital, and Tomales Bay Capital. Present traders AME Cloud Ventures, iRobot Company, King River Capital, and Founders Fund additionally participated.
OSARO plans to make use of this newest funding to speed up world progress by way of market enlargement and hiring, in addition to extending its resolution and assist choices. The corporate will even proceed to boost its core know-how capabilities, together with leveraging its machine studying platform into new automation functions. OSARO’s options presently allow logistics operators to scale e-commerce order achievement, stock induction & extraction, sortation, and singulation. The corporate’s robotic automation integrates with ASRS, AMRs, conveyor methods, and different supplies dealing with tools. The newest funding places OSARO able to additional broaden its product line throughout the subsequent two years.
Demand for logistics automation has dramatically accelerated up to now 12 months as a consequence of a surge in e-commerce pushed by the COVID-19 pandemic. This demand has enabled the corporate to safe robotics automation deployments in seven nations on 5 continents.
“This new funding will enable OSARO to broaden our resolution set and speed up supply to our clients,” stated Derik Pridmore, co-founder and CEO of OSARO. “With dozens of shoppers on 5 continents, OSARO has constructed a world presence that we’re excited to broaden. We look ahead to collaborating with our clients to establish new alternatives the place robotic options may help scale and enhance operational efficiency. Our clients’ success is our success.”
“We’re excited to assist OSARO scale their enterprise as they proceed to widen their geographic targets and develop their product providing,” stated Octave Ventures’ Michael Kim. “The market desperately wants this know-how, and OSARO’s robotic automation options are prepared for prime time.”
Subscribe to our e mail publication and we’ll preserve you recent.