The pandemic now is understandable, proving to be a significant driver for robotics and automation adoption. The already hot categories prove to be also more appealing as companies look to technology amid the measure of a deadly and highly contagious virus. Warehouses and satisfaction centers are, naturally, a big category for funding.
Startup Fox Robotics an Austin, Texas-based maker of self-driving forklifts that automatically unload trailers. Fox Robotics was funded $9 million series A round funding led by Menlo Ventures, one of the most valued venture capital firms in Silicon Valley, and the addition of Mark Siegel, partner at Menlo Ventures. With support from previous investors Eniac Ventures, La Famiglia, SignalFire, Congruent Ventures, and AME Cloud Ventures.
Since Fox Robotics’ first pilot last October, customer demand has consistently outstripped our production capacity. These funds will allow them to grow our engineering, production, and customer support teams to deliver more robots more quickly while keeping them happy and productive.
Fox makes self-driving forklifts that are more flexible, more capable, and safer than current AGV’s. Fox’s forklifts can tackle challenging tasks that no other automation can handle, such as unloading trailers without modifying the warehouse environment.
Mark Siegel, Partner at Menlo Ventures, said they are proud to back their team at Fox Robotics. Because this company’s value proposition is clear, its full-stack solution for self-driving forklifts that can increase workplace productivity 200 to 300 percent brings enormous efficiency to the supply chain.
Fox’s forklifts use modern AI for real-time detection of pallets, trailers, and obstacles and do not need pre-programmed fixed locations. They use sensors and dynamic planning to plan routes on the fly and do not require hand-drawn or memorized routes.
By: K. Tagura
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