Covariant adds funding
THE AI-driven robotics company has added $75 million in Series C funding, bringing the total raised to $222 million.
The funding will be used to deploy robotic picking solutions to retailers and logistics providers. According to Covariant-led research from February 2023, more than 80% of retail leaders see automation as a key solution for navigating operational uncertainty in an unpredictable marketplace – and 98% plan to further invest in AI Robotics in 2023 despite current economic conditions.
Since its initial Series C in 2021, Covariant has applied its AI platform – the Covariant Brain – to a broad set of piece-picking and case-picking applications. In less than two years, the company’s product portfolio has grown to include order sortation, item induction, good-to-person order picking, kitting, and depalletisation solutions – all powered by a unified AI platform.
For more information, visit https://covariant.ai/
