San Antonio, Texas-based Plus One Robotics secured $50M in Series C financing led by Scale Venture Partners.
The AI-powered robotics firm will use the proceeds to increase production capacity, scale the business, and boost its marketing efforts in North America and other regions.
To date, the firm has raised $94M in total funding, the last of which came in the form of a $33M Series B round led by McRock Capital and Translink Capital in April 2021.
- Both Series B lead investors participated in the recent funding, joined by Top Tier Capital Partners, ROBO Global Ventures, Tyche Partners, and others.
- Notable clients include FedEx, DHL, and Pitney Bowes.
Plus One Robotics estimates parcel handling automation to be a $128B global market.
- It estimates that 80% of warehouses currently need manual parcel handling.
