February 19, 2021

Friday Fundings: Locus Robotics and Standard Cognition

Friday Fundings: Locus Robotics and Standard Cognition
Friday Fundings: Locus Robotics and Standard Cognition

Locus Robotics Offers Companies a Taste of Automation

Locus Robotics, a company specializing in flexible automation, raised $150 million in a Series E round led by Tiger Global Management and Bond. The company is now valued at about $1 billion.

Locus is a third-party logistics company which currently deploys its robots to about 80 sites, mainly warehouses, across the US and Europe. Ecommerce has boomed during the pandemic. But because these trends are so new, some businesses are reluctant to invest tens of millions of dollars in buying robotics solutions. Locus allows them to test out automation systems and experiment to find what will best meet their needs. With the new funding, Locus plans to grow its footprint, particularly in Europe and Asia.

Standard Cognition Creates Technology to Compete With Amazon Go

Standard Cognition is a startup building technology for cashier-less retail stores. It recently raised $150 million in a Series C funding round, bringing its valuation to $1 billion.

Standard Cognition offers clients a package of cameras and software that keeps track of what shoppers put in their carts. The system then charges people automatically when they exit the store. Amazon (AMZN) has been a leader in this technology with its Amazon Go stores, but the tech giant is now facing competition from Standard Cognition.

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