US-based warehouse robotics developer Agility Robotics received $150m in series B financing on Friday from investors including e-commerce firm Amazon’s Industrial Innovation Fund, insurance provider Itic and electronics manufacturer TDK.
Venture capital firms DCVC and Playground Global co-led the round, which also featured MFV Partners, Robotics Hub and Safar Partners, while TDK participated through corporate venturing subsidiary TDK Ventures.
Agility has created tactile robots structured similarly to humans that use its proprietary artificial intelligence software and which are designed to be capable of walking, lifting and putting down objects while navigating barriers or irregular terrain.
In theory, the robots could be capable of not only moving goods in warehouse environments, but also of delivering packages to customers’ homes or businesses.
The company will channel the cash into research and development and expand production of its robots as it prepares to ship its most advanced machine to customers later this year. It also intends to grow its operations in Oregon and Palo Alto, doubling the size of its team by 2024.
Agility was one of four portfolio companies named by Amazon Industrial Innovation Fund last week when it launched with $1bn in capital.
Katherine Chen, head of Amazon Industrial Innovation Fund, said: “The purpose of the Amazon Industrial Innovation Fund is to support emerging technologies through direct investments, designed to spur invention and solve for the world’s toughest problems across customer fulfilment operations, logistics and supply chain solutions.
“Agility’s approach to designing robotics for a blended workforce is truly unique and can have a significant ripple effect for a wide range of industries, and we hope others follow suit to accelerate innovation in this way.”
Playground Global and DCVC also co-led the company’s last round, a $20m series A in late 2020 that included TDK Ventures, consumer electronics producer Sony’s Innovation Fund, MFV Partners and Safar Partners, boosting its overall funding to over $28m. Coal Hill Ventures and Williamette Angels Conference were among its earlier investors.
Photo courtesy of Agility Robotics.
