US-based Plus One Robotics, a leading provider of vision software for logistics robots, raised US$ 33 million in a Series B funding round on 28 April 2021.
Investors: The funding round was co-led by McRock Capital and TransLink Ventures with participation from BMWi Ventures, Kensington Capital Partners and Ironspring Ventures alongside existing investors. Whitney Rockley of McRock Capital and Toshi Otani of TransLink will join the company’s Board of Directors.
Purpose of the funding: The funds raised will be utilized by the company to support its ongoing expansion in the US and Europe and towards product development to meet rapidly rising customer demand.
About Plus One Robotics
Founded in 2016 by Erik Nieves, Paul Hvass and Shaun Edward, Plus One Robotics builds robot perception software and solutions. It aims to mitigate the persistent shortage of manual labour. Plus One has a novel approach to human/robot collaboration. Supervised autonomy ensures the systems are scalable, flexible and fault-tolerant.
The AI-powered and 3-D perception software, PickOne, works with any robot arm, gripper and cloud service and delivers precise hand-eye coordination enabling robots to perform a range of warehouse tasks. Plus One’s robot supervision software, Yonder leverages human intelligence to handle the variety of items passing. Moreover, one person can manage up to 50 robots remotely.
What the CEO has to say: “We’re fortunate to work with customers at the cutting edge of warehouse automation who share our values of “Robots Work, People Rule.” We are excited to grow alongside our clients here and abroad. Like our clients, our investors have a global footprint representing Asia and the EU as well as North America. This potent combination sets Plus One on a course to continue growing our international installed base.” — CEO and co-founder Erik Nieves.
What the investors have to say: “The Plus One team has done an excellent job aggressively growing its business over the past two years. Their market traction and customer base validate the need for logistics automation using agnostic, scalable applications. Erik and the team have a deep bench of robotics and vision software experience that is widely respected, making Plus One beautifully positioned to dominate the sector.” — Whitney Rockley of McRock.
“The precision and quality that Plus One is able to deliver are transformative for warehouse operators. With new packaging types entering the supply chain daily, Plus One is positioned to be an integral part of any system in the eCommerce fulfilment and distribution centre. We’re excited to play a part in this growth, as well as their growth in the Asian markets.” — Toshi Otani of TransLink.
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