Funding Roundup: Scaling New Heights With Locus Robotics, Saltbox and Others
It has been an exceptional week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:
Locus Robotics Series F Funding
Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfillment and distribution warehouses, has announced a Series F funding of over $117M from Goldman Sachs, G2 Venture Partners and others. "This new round of funding marks an important inflection point for Locus Robotics as we look toward our next stage of growth, and we strategically chose to bring in investors with a wealth of experience in both public and private markets to advise us as we continue our journey," said Rick Faulk, CEO of Locus Robotics. "
Year Founded: 2014
Founder(s): Bruce Welty and Al Dekin
Location: Wilmington, United States
Latest Funding: $117M Series F
Lead Investor(s): Goldman Sachs, G2 Venture Partners and Stack
Saltbox Series B Funding
A pioneer of what it calls ‘co-warehousing’, Saltbox was born out of the desire to help small and medium-sized enterprises (SMEs) “navigate the challenges of their entire logistics stack”. With over 10 facilities across the United States, the company offers adaptable office space and private warehouse suites where e-commerce businesses can ship and store their goods. Following the recently completed $35MSeries B, Saltbox will be enhancing its core technology stack to further power its end-to-end logistics platform.
Year Founded: 2019
Founder(s): Maxwell Bonnie, Paul D’Arrigo and Tyler Scriven
Location: Atlanta, United States
Latest Funding: $35M Series B
Lead Investor(s): Cox Enterprises and Pendulum
Leta Pre-Seed Funding
Leta is a Kenyan supply chain and logistics SaaS provider that has secured $3M in pre-seed funding to scale operations in its existing five markets. Backed by its proprietary route and load optimization technology, Leta builds software that enables an efficient and automated movement of goods to consumers. With the latest funding, Leta will also gain access to some of the biggest distributors and e-commerce players in the region, which will greatly accelerate its expansion plans.
Year Founded: 2021
Founder(s): Nick Joshi, Anthony Ketter and Kip Maritim
Location: Nairobi, Kenya
Latest Funding: $3M Pre-seed
Lead Investor(s): 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate and Verdant Frontiers Fintech
Netail Seed Funding
Founded as part of the Landing AI group, Netail is a technology startup that allows retailers to see their market from a customer perspective. Using business rules and AI-based optimization, the company helps retailers auto-identify competitors across the web, track their assortments and availability in real time to optimize pricing of their products. Armed with the additional $5M raised from its seed round, Netail is poised to advance retail-focused AI development and tackle the challenges of today’s retail landscape.
Year Founded: 2022
Founder(s): Mark Chrystal, Barney Govan and Sivakumar Hariharaiyer
Location: Pittsburgh, United States
Latest Funding: $5M Seed
Lead Investor(s): Magarac Venture Partners (MVP) and Andrew Ng’s AI Fund
Dwarfs Series B Funding
Dutch e-commerce marketplace aggregator Dwarfs has bagged €30M in its latest Series B featuring both new and existing investors such as Harlan Capital Partners and Solid Ventures. According to company CEO and co-founder Demian Beenakker, the startup is well on track to expand across Europe efficiently and effectively with its in-house designed tech platform and centralized European infrastructure among other components.
Year Founded: 2021
Founder(s): Demian Beenakker, Michiel Meer and Tim Stribos
Location: Amsterdam, the Netherlands
Latest Funding: €30M Series B
Lead Investor(s): Solid Venture Partners and Harlan Capital
OneRail Series B Funding
With its headquarters in Orlando, Florida, OneRail is a last-mile delivery service provider that is transforming B2B supply chains with an on-time delivery rate of more than 98 percent. On the heels of record growth, the company has closed a $33MSeries B co-led by Piva Capital and Arsenal Growth Equity. As stated in their statement, the new capital will be used to expand the platform’s data capabilities, expand teams and enhance the affordability and sustainability of final-mile logistics.
Year Founded: 2018
Founder(s): Bill Catania and Lisa Catania
Location: Orlando, United States
Latest Funding: $33M Series B
Lead Investor(s): Piva Capital and Arsenal Growth Equity
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