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.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.