SoftBank Leads $20 Million Investment in Fetch Robotics

Pioneer in Robotics for Logistics and Material Handling in High Demand From Warehouse and Fulfillment Centers

SAN JOSE, Calif. — (BUSINESS WIRE) — June 17, 2015Fetch Robotics announced today that it has raised $20 million in Series A funding. The round was led by SB Group US, Inc. ("SoftBank") and also included additional funding from seed investors O'Reilly AlphaTech Ventures and Shasta Ventures. The Series A round brings Fetch's total funding to date to $23 million. The new capital will be used to expand Fetch's sales and marketing operations and to meet accelerating demand from warehouses and fulfillment centers.

In addition, SoftBank's Kabir Misra will be added to Fetch Robotics’ board of directors. He will join existing board members Bryce Roberts from O'Reilly AlphaTech Ventures, Rob Coneybeer from Shasta Ventures, Steve Hogan from Tech-Rx, and Fetch Robotics CEO Melonee Wise.

Unveiled in April of this year, the Fetch Robotics system is comprised of a mobile base (called Freight) and an advanced mobile manipulator (called Fetch). Fetch and Freight use a charging dock for autonomous continuous operations, allowing the robots to charge when needed and then continue on with their tasks. In addition, the system includes accompanying software to support the robots and integrate with the warehouse environment. The robots are designed to work independently alongside human workers, performing repetitive tasks such as warehouse delivery, pick and pack, and more.

According to Material Handling & Logistics U.S. Roadmap, "The demand for shorter lead times has become an imperative for inbound logistics in support of production, with the proliferation of lean and just-in-time operations. However, this is also a competitive advantage for business-to-consumer (B2C) delivery, as the growth of Amazon Prime is proving."

Furthermore, according to a recent ARC Advisory Group market study, Warehouse Automation and Control, "E-commerce and its profound effects on fulfillment requirements is stimulating widespread growth in warehouse automation and control system sales."

"As businesses look for solutions to streamline operations and meet the needs of an on-demand economy, we see a tremendous opportunity for robotics to solve that problem," says Kabir Misra, Managing Director at SB Group US, Inc. “The team, the robots, and the timing all lead us to Fetch Robotics and we are happy to join them in bringing Fetch and Freight to market."

"I'm delighted to have SoftBank join the team and help us change the world of logistics and material handling," said Melonee Wise, CEO of Fetch Robotics. "SoftBank's expertise and worldwide resources with respect to technology, production, distribution and more will be a big help to our growing organization."

About Fetch Robotics

Fetch Robotics builds robot systems for the logistics industry. The company was founded in 2014 and is headquartered in San Jose, CA. For more information, please visit http://www.fetchrobotics.comor follow the company on Twitter @FetchRobotics.



Contact:

Element Public Relations
Tim Smith, 415-350-3019
Email Contact




Review Article Be the first to review this article
HP

Autodesk - DelCAM

Featured Video
Jobs
CAD Systems Administrator for KLA-Tencor at Milpitas, CA
Senior Mechanical Engineer for Verb Surgical at Mountain View, CA
Principal Research Mechatronics Engineer for Verb Surgical at Mountain View, CA
Lead Geospatial Analyst for Alion at McLean, VA
Industrial Designer Intern – Spring 2017 for Nvidia at Santa Clara, CA
Upcoming Events
SOLIDWORKS 2017 Launch Event – Walsall at Village Hotel Club, Walsall, WS2 8TJ Walsall United Kingdom - Mar 30, 2017
PI APPAREL Hong Kong 2017 at SHANGRI-LA KOWLOON 64 Mody Road Tsim Sha Tsui East Kowloon Hong Kong - Apr 5 - 6, 2017
SOLIDWORKS intro and hands on session – Slough at Baylis House, Slough, Berkshire, SL1 3PB Slough United Kingdom - Apr 7, 2017
Engineer 3D! Training + Technology Conference at Hyatt Regency Milwaukee 333 West Kilbourn Avenue Milwaukee WI - Apr 25 - 26, 2017
SolidCAM: Patented Wizard to optimal feeds & speeds
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise