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About
Summary
Valuation

Founded: 2014

Headquarters: Wilmington, Massachusetts

Locus Robotics is the world leader in revolutionary, enterprise-level, warehouse automation solution, incorporating powerful AI-driven, intelligent autonomous mobile robots (AMRs) that operate collaboratively with human workers to dramatically improve product movement and productivity 2–3X. Named to the Inc. 500 three years in a row, an IFOY winner, and earning over 23 industry and technology awards, the Locus solution dramatically increases order fulfillment productivity, lowers operational costs, and improves workplace quality, safety, and ergonomics for workers. Supporting more than 125+ of the world’s top brands and deployed at 300+ sites around the world, Locus Robotics enables retailers, 3PLs, and specialty warehouses to efficiently meet and exceed the increasingly complex and demanding requirements of today’s fulfillment environments.

Key Facts

1

The warehouse automation market is experiencing significant growth, fueled by the escalating demands of e-commerce and persistent labor shortages. Currently, a small fraction of US warehouses utilizes mobile robotics, indicating a vast potential for expansion in this sector. The integration of robotics with human labor notably enhances productivity, effectively addressing both efficiency and workforce challenges. This trend towards automation and robotics is becoming crucial in modern warehouse operations, providing improved efficiency, scalability, and a competitive advantage in the ever-evolving logistics industry.

2

Locus Robotics addresses the challenges in the warehouse automation sector by providing advanced autonomous mobile robots (AMRs) designed to work alongside human employees. Its AMRs enhance productivity and efficiency in labor-intensive tasks like picking and sorting, crucial for managing the high demands of e-commerce and mitigating labor shortages. Locus Robotics' technology seamlessly integrates into existing warehouse infrastructures, emphasizing scalability, fast ROI, and ease of deployment. This approach not only reduces reliance on human labor for repetitive tasks but also enables warehouses to quickly adapt to changing demands and peak periods, maintaining operational efficiency and competitiveness in the global market.

3

Locus solutions include directed picking, put away, P2P transport, mezzanine management, deployment, productivity, robotics as a service, warehouse experts, and rapid assessment & design services.

4

LocusOne is the industry’s first data science-driven automated warehouse software for enterprise-wide AMR deployments & performance management in existing (brownfield) and new (greenfield) environments.

5

The LocusOne platform accommodates the diverse material handling requirements prevalent in modern fulfillment and distribution warehouses. It allows facilities of all sizes to efficiently manage a unified, diverse fleet of AMR models, ensuring seamless operation and coordination.

6

LocusOne enables LocusBots to effortlessly scale and perform a wide variety of tasks within a single warehouse. These tasks include individual item picking and putaway, case picking and putaway, replenishment, pallet building, executing routine routes, point-to-point transport, counting, and other activities, showcasing the system's versatility and adaptability.

7

LocusOne incorporates the acclaimed LocusView package, a comprehensive dashboard and reporting tool from Locus. This feature is crafted to provide data-driven, actionable insights through over two dozen detailed reports and real-time dashboards. It covers a range of functionalities including labor guidance, predictive analytics for task completion, operational benchmarks against goals or specific timeframes, order pool monitoring and advice, mission analysis and enhancement, and visualization of key performance indicators, among others.

8

LocusOne seamlessly and effectively integrates with various automation technologies, guaranteeing a flexible and scalable robotics solution that can be effortlessly implemented in both existing and new environments.

9

Locus has three products: Origin, Vector, and Max.

10

Locus Origin, an intelligent autonomous mobile robot (AMR), is specially crafted for collaborative, high-volume order fulfillment. Its unique multi-bot strategy enhances fulfillment efficiency by more than double, primarily by reducing unproductive walking time, while also ensuring precise order accuracy.

11

As Locus Origin handles the movement, workers can focus on more productive tasks, leading to quicker cycle times, better ergonomics, enhanced worker safety, and an overall improvement in workplace quality.

12

Locus Origin offers flexible configuration options, accommodating multi-level shelving and a diverse array of containers including tote-arrays, bulk bins, and shipping boxes. This adaptability ensures it can seamlessly integrate with specific workflows and various product types.

13

Locus Origin’s design makes it highly agile and flexible, easily working collaboratively alongside workers.

14

Locus Vector is an innovative, flexible, autonomous material handling and logistics robot specially designed for high-productivity material handling and logistics applications. Featuring a robust industrial-grade chassis, omnidirectional movement capabilities, and a compact form, the AMR is suitable for deployment in a diverse array of settings, adeptly handling a multitude of material handling duties.

15

Locus Vector is adept at effortlessly transporting various items during operations. Its versatile design supports a range of applications, including moving shelves or racks, discrete order picking, and point-to-point material handling, showcasing its multifunctional capabilities.

16

Locus Vector’s unique, omnidirectional mobility enables it to easily maneuver in virtually any orientation to fit specific needs.

17

Equipped with a 3D LiDAR system that has a 90-meter range, Locus Vector enhances safety and navigational precision, making it exceptionally suitable for the dynamic and challenging conditions of demanding warehouse environments.

18

Locus Max is a heavyweight, autonomous pallet robot (pallet AMR) specifically designed for safe, autonomous transportation of large and heavy payloads throughout any facility.

19

Locus Max features a user-friendly interface, enabling quick and straightforward setup and autonomous operation, often achievable in less than 15 minutes.

20

Locus Max is perfectly suited for a wide range of applications, such as case picking and pallet movement. It is designed to interact seamlessly and safely with workers, efficiently handling even the heaviest loads with ease.

21

Locus stands out as one of the select robotics companies capable of successfully implementing a Robot-as-a-Service (RaaS) model on a large scale. This subscription-based approach has facilitated customer adoption by reducing initial investments, while simultaneously establishing predictable and recurring revenue streams for Locus.

22

“Locus has fundamentally attractive site-level unit economics underpinned by impressive expansion rates,” said G2 Venture Partners in a statement.

23

CEO Rick Fault noted in March 2023 that approximately 23% of current business operations are in greenfield buildings. Initially focused on brownfield sites, the advantage of Locus lies in its versatility to effectively operate in both environments.

24

According to Business Insider, CEO Rick Faulk said in November 2022, the company had more than $100 million in contracted recurring revenue.

25

In November 2022, CEO Rick Faulk stated, "If the (IPO) window does open, hopefully in the next 12 to 24 months, we're ready to go. We've got the numbers to do it.”

26

In March 2023, CEO Rick Faulk stated, “We’ve raised about $430 million, went through our Series F. Next leg in our financing will be an IPO. Probably. We have the numbers to do it now. The market conditions are not right to do it, for all the reasons you know.”

27

In March 2023, Optoro, Inc., a Linqto portfolio company, and Locus Robotics announced a strategic partnership to provide a fully integrated, robust, and highly scalable software and robotics automation solution for high-volume retail e-commerce returns processing.

28

In August 2023, Locus Robotics announced that its AMR solutions have now picked more than two billion units, reinforcing the company’s position as the premier robotics provider for the warehouse and logistics industry. This new milestone comes just 11 months after reaching the industry-first landmark of one billion picks in 2022.

29

In December 2023, Locus Robotics was named to the 4th Annual 2023 Inc. Best in Business List, a compilation that honors companies that have made an extraordinary impact in their fields and on society. The recognition cites Locus Robotics’ commitment to driving positive change in the industry and making a significant impact on its customers’ businesses over the past 12 months.

30

In December 2023, Locus Robotics was named “Powerhouse Robotics Company of the Year” at the 2023 NEVY awards gala hosted by the New England Venture Capital Association (NEVCA). The award recognizes Locus Robotics’ rapid growth, technical innovation, and impact on revolutionizing warehouse productivity over the past year.

31

In December 2023, Locus Robotics released its annual Cyber Week recap announcing a record-breaking 331 million units picked globally on behalf of its retail and third-party logistics partners, a 66% increase over last year. LocusBots picked nearly 7 million average daily units, an increase of over 107% vs. 2022.

Industry

Primary Vertical

FinTech

Mosaic Score

100

Money - 100

Momentum - 100

Management - 100

Market - 100

What is a Mosaic Score?

Employees: 500


Key Officers

Name Work History Title Status
officer name 1 Founder Current
officer name 2 Founder Current
officer name 3 Founder Current

Customers

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Key Investors

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Size of Market

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Market Position

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Valuation & Fundraising

Last Round: Jan. 2021, Seed

Valuation Post-Money: $10M

 

Amount Raised: $1M

Total Funds Raised: $10M

 

Linqto Implied Valuation: $10M


Funding Rounds

Date Round Amount Valuation
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M

Valuation Over Time

Linqto Chart

1 buyback

Competitive Landscape

Company Valuation Revenue

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B