Robotics and artificial intelligence company Berkshire Grey has raised $263 million in Series B financing to continue providing global Fortune 100 companies with retail, eCommerce and logistics fulfillment automation.
SoftBank, Khosla Ventures, New Enterprise Associates and Canaan all participated in this financing round, Berkshire Grey said in a release Tuesday (Jan. 21).
The funds will empower Berkshire Grey’s worldwide growth, acquisitions, and internal team expansion. The company seeks to enhance its growing reputation as a global provider for AI and robotics solutions.
Berkshire Grey utilizes intelligent robot and AI solutions to automate tasks previously not done in commercial settings by logistical machines.
Its products automatically pick, pack and sort items, inner packs, cases, and parcels to automate omnichannel warehouse and distribution operations.
“Our customers from leading enterprises in retail, eCommerce, and logistics are selecting Berkshire Grey as a competitive differentiator,” said Tom Wagner, founder and CEO of Berkshire Grey in a statement. “With our intelligent robotic automation, our clients see faster and more efficient supply chain operations that enable them to address the wants of today’s savvy consumer."
Berkshire Grey’s customers often optimize labor expenses in their operations by 70 percent to 80 percent and increase output by 25 percent to 35 percent, the company said.
Berkshire is not alone in the crowded robotics automation field, of course. Last year, as PYMNTS reported, Amazon introduced the world to a pair of warehouse robots named Xanthus and Pegasus, intended to help streamline and improve automation in Amazon’s fulfillment centers. Xanthus is a total redesign of the company’s already existing robot technology.