Locus Raises $117 Million To Advance Warehousing
Another win for robots! Locus Robotics, based in Massachusetts, has made a name for itself in the thriving warehousing robotics industry. This week Locus announced a $117 million Series F led by Goldman Sachs, G2 Venture Partners and Stack per TechCrunch. The company’s total funding is now around $400 million bringing Locus’s valuation close to $2 billion.
Locus is a standout among others in the industry like…
- Verity AG
- 6 River Systems (acquired by Shopify)
- RightHand Robotics
- Amazon Robotics (formerly Kiva Systems)
We can only expect ventures like Locus to boom…
…considering the accelerated growth of the eCommerce sector and rumors of names like TikTok pushing into the US market. In recent days, we’ve seen digital orders set records this Black Friday. In order to stay competitive, you’ve gotta bring in the bots.
Of course, industry giant Amazon still dominates. They were one of the early adopters of automation, acquiring Kiva Systems for their fulfilment centers back in 2012. Amazon sets the standards and goals that smaller retailers have to catch up to. Because of that, robotics startups have cropped up everywhere to bridge the gap.
Like others, Locus assures the public that no, our robots won’t run you out of a job.
They say they “understand the importance of having robots that work collaboratively with workers, not replace them.” They illustrate the point with digital line art showing an at-ease worker leaning against one of their robots. See? Total harmony.
For the future…
Locus looks towards further solidifying its place as a leader in the warehouse robotics space.
Powered Trailers Coming Soon Thanks to Range
Based in Mountain View, California, Range has created a powered trailer to “accelerate the electrification of commercial transportation” according to their website. Range was founded in 2021 by Ali Javidan, a former head of prototypes at Tesla.
How do They work? Range explains on its site:
- An “integrated sensor and powertrain system” power the trailer.
- A smart kingpin unit measures the load the trailer places on the truck.
- The smart kingpin, sensor, and system communicate with one another, reducing the load on the engine under acceleration and recapturing kinetic energy using regenerative braking.
The trailers use standard interfaces and are compatible with both diesel and electric trucks. Even if the trailers weren’t plugged in, they can still safely haul cargo.
Who’s interested and why?
It makes sense that smaller trucking companies might be interested in this more cost-efficient alternative. The Tesla Semi, which reportedly completed a 500-mile haul, costs $180,000 or $150,000 for the 300-mile-range option.
The FMCSA has made its environmental priorities clear, wanting to curb engine emissions and pushing towards the adoption of zero-emission trucks. California leads the way in electric vehicle initiatives with goals to phase out diesel trucks in the next 20 years.
Range’s powered trailers could really help the little guys…
…stay relevant in this fast-changing industry. Their audience is clear to them. Range markets the powered trailers as a “practical, compliant, near-term solution to emissions mandates.”
According to Range, their trailers “reduce diesel consumption and tailpipe emissions by 41% in combined city/highway driving, with no increase to cost-per-mile.” And for those companies that may already have electric vehicles, the powered trailers extend the miles driven before the EV trucks need their next charge-up.
The company recently raised $8 million in Seed funding led by Up Partners, R7, and Yamaha Motor Ventures.
Latest and Greatest From Around the Freight Web
Somebody Help!: On Monday night, Biden called on Congress to take action to avoid a freight rail strike. On Tuesday, Congressional leaders spoke up, expressing support for legislation on the issue. Speaker Nancy Pelosi said, “Tomorrow morning we will have a bill on the floor.”
Drug Bust: A truck driver was stopped at the US-Mexico border where his load of “surgical kits” turned out to be hiding 22.97 pounds of cocaine (an estimated street value of $291,760). In a statement, the driver said he was “obligated” to move the drugs.
Korean Wave: South Korea’s trucker strike, the second one this year, rippled through the supply chain. The disruption blocked access to two of the country’s busiest container ports. Following a 6-day strike, the truckers have now been ordered back to work.
Final Battle: In the battle of the brokers, many see 2023 as the time to prove yourself or sink. Legacy brokers like C.H. Robinson and RXO have expanded their own automated systems to compete with native digital brokerages like Uberfreight and Convoy. For smaller firms without AI tech…things will get pretty rocky.
Fast Friends: Turvo and DAT have formally announced their partnership bringing efficiency in the form of a “one-stop shop” for freight matching. DAT VP of Sales says their load board network will host more than 535 million load and truck posts.