Plus One Robotics, a San Antonio, TX-based provider of advanced AI vision software and solutions for robotic parcel handling, announced that it raised $50 million in Series C funding, bringing the company’s total funding to date to nearly $100 million.
The round was led by Scale Venture Partners, with Partner Rory O’Driscoll joining the board of directors. Top Tier Capital Partners, Tyche Partners, ROBO Global Ventures, Translink, McRock, and Pritzker Group Venture Capital also participated in the round alongside existing investors.
With these new funds, Plus One can further increase its capacity and rapidly scale deployment, as well as expand its sales and marketing efforts in North America and internationally.
“The growth of e-commerce has placed tremendous pressure on shipping responsiveness and scalability that has significantly exacerbated labor and capacity issues,” said Erik Nieves, CEO and co-founder of Plus One Robotics. “Automation is key, but keeping a human-in-the-loop is essential to running a business 24/7 with greater speed and fewer errors. With the ongoing labor shortages, I believe we’ll see an increase in the adoption of Robots-as-a-Service (RaaS) to lower capital expenditures and deploy automation on a subscription basis. This new funding will help us scale up and meet the need for these solutions.”
Plus One’s technology helps to alleviate the persistent shortage of manual labor through robotic solutions, dramatically streamlining the parcel picking and depalletizing processes. Plus
The company’s solutions employ AI-powered software with unique end-of-arm robot grippers that provide the perception and manipulation necessary to pick and place parcels.
Company: Plus One Robotics, Inc.
Round: Series C
Funding Month: March 2023
Lead Investors: Scale Venture Partners
Additional Investors: Top Tier Capital Partners, Tyche Partners, ROBO Global Ventures, Translink, McRock, and Pritzker Group Venture Capital
Company Website: https://www.plusonerobotics.com/
Software Category: 3D and AI-powered Perception Software
About the Company: Founded in 2016, Plus One Robotics develops a parcel-handling robotics platform for logistics applications. Its intelligent solutions combine computer vision, AI, and supervised autonomy to pick parcels for leading logistics and e-commerce organizations in the Global 100. The company has experienced nearly three times year-over-year growth from expanded business with existing customers and new deployments. Additionally, it has increased its adoption of the human-in-the-loop capability and RaaS offering among its parcel and post, third-party logistics (3PL), and general merchandise customers. Plus One Robotics customers include FedEx, MSC Industrial, and many others. Plus One deployment performs over one million parcel picks each day in production and currently holds an industry-leading metric of more than half a billion parcel picks globally. The company is headquartered in San Antonio with offices in Boulder, Pittsburgh, and The Netherlands.