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On-demand automation provider gets funding boost
30 July 2019
Fetch Robotics announced a Series C round of funding of $46 million. Fetch Robotics has raised $94 million to date.
The funding will be used for international expansion, to meet accelerating customer demand, and for R&D.
Fetch combines mobile robotics with the Fetch Cloud Robotics Platform for warehouse and fulfillment operations.
Melonee Wise, CEO of Fetch Robotics says: “The competitive pressures for excellence in logistics have never been greater. Our Autonomous Mobile Robots and cloud platform enables our customers to meet their customers’ demands while meeting their own financial objectives.”
CASE STUDY
While supply chain automation isn’t new to logistics or manufacturing, what is new is the need for speed – to produce, transport, package, ship, deliver and adapt – at a pace never before seen. At the same time, the labour shortages that plague e-commerce operations are also impacting distribution, fulfillment and manufacturing facilities.
One such company is Universal Logistics Holdings, a full-service provider of customised transportation and logistics solutions. Universal recently deployed the Fetch Cloud Robotics Platform in its one million square-foot Smyrna, TN logistics facility which serves the nearby Nissan Motors plant, the largest auto manufacturing facility in North America.
Just outside of Nashville, the greater metropolitan area where Smyrna resides ranks among the lowest overall unemployment rates in the United States at 2.4%. This makes it especially difficult to meet the demand for logistics workers and leads to chronic under-staffing situations. As a result, Universal has a pressing need for flexible, reliable and cost-effective automation solutions that can handle low-level tasks – like pushing carts with parts and sub-assemblies over long distances.
In the Smyrna facility, Universal is using 10 Fetch CartConnect robots in conjunction with 40 carts to automate several key processes in the warehouse. This enables them to meet their targets while reducing the near continuous need to ask associates to work overtime. By opting for the Fetch Robots-as-a-Service (RaaS) monthly fee model, Universal has been able to minimise its upfront investment and realise a compelling ROI.
“Thanks to the short time from delivery to operation and the pay-as-you go approach, we’ve seen an immediate financial benefit from the Fetch deployment,” said Lee Weisenberger, managing director of IT at Universal. “This is a model we can easily roll out to many additional facilities.”
“Flexibility in operations is a top priority for warehouse operators today,” said John Santagate, Research Director at IDC. “Traditional automation technology lacks the ability for rapid deployment, scalability, and flexibility that modern robotics are enabling. On top of the physical element of modern robotics, development of cloud-based applications to enable robotics has greatly enhanced the ability to rapidly and efficiently deploy robotics at scale. The cloud robotics approach at Fetch is something that is enabling warehouses to rapidly realise the benefits of robotics and making it easier for companies to deploy and use robots in their operation.”
The round was led by Fort Ross Ventures, with additional participation from CEAS Investments, Redwood Technologies, TransLink Capital and Zebra Ventures. All existing investors – O’Reilly AlphaTech Ventures, Shasta Ventures, Softbank Capital and Sway Ventures – also participated in this round.
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