US-based robotic fulfilment systems developer Berkshire Grey secured $263m in a series B round yesterday led by internet and telecommunications conglomerate SoftBank.
Khosla Ventures, New Enterprise Associates and Canaan also contributed to the round.
Berkshire Grey has developed technology that combines robotics and artificial intelligence to automate retail, e-commerce and logistics fulfilment. Applications include sorting small packages for online businesses and just-in-time stock replenishment for stores.
The money will support global expansion efforts and drive recruitment. The company will also look to make acquisitions, though it did not reveal further details.
The company does not appear to have disclosed earlier funding rounds. It emerged from stealth in December 2018, when it named Khosla Ventures, New Enterprise Associate, Canaan and private investor Jeff Immelt as shareholders.
Tom Wagner, founder and chief executive of Berkshire Grey, 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.”
