Industrial robots and warehouse automation are lucrative intermingling markets, as evidenced by Berkshire Grey. The Lexington, Massachusetts-based company, which combines AI and robotics to automate omnichannel fulfillment for retailers, ecommerce, and logistics enterprises, today announced that it has secured a mammoth $263 million in series B funding led by SoftBank. Khosla Ventures, New Enterprise Associates, and Canaan participated in the round. CEO Tom Wagner says the fresh capital will fuel the startup’s global expansion, acquisitions, and team growth.
The Gartner, Inc. 2020 Hype Cycle for Supply Chain Strategy shows that the Internet of Things (IoT) has reached the bottom of the Trough of Disillusionment. The market will begin to climb out of this trough, as the technology advances and practitioners succeed in defining the best opportunities for the unique measurement and tracking capabilities of IoT.
Burlington-based Desktop Metal Inc. is the latest Massachusetts company to go public this year thanks to an accelerated procedure called a reverse merger.Not including more than a dozen life sciences IPOs this year, Desktop Metal is the fourth Massachusetts company to go public this year. Non-biotech companies that went public this year include daily fantasy sports betting company DraftKings Inc. (Nasdaq: DKNG) which also went public via a reverse merger, Duck Creek Technologies (Nasdaq: DCT) and Amwell.The 3-D printing company announced Wednesday it will become a publicly traded company through a merger deal with a special purpose acquisition company, or SPAC. In a release, Desktop Metal said early Wednesday it had signed a merger agreement with Trine Acquisition Corp. (NYS
Warehouse robotics startup Locus Robotics today announced it has raised $40 million, the bulk of which will be put toward accelerating R&D and the company’s expansion into new markets, including in the EU, where it opened a new headquarters. CEO Rich Faulk says Locus also intends to launch strategic reseller partnerships throughout 2020, following a year in which its number of customer deployments passed 50.
Tom Ryden, executive director of nonprofit MassRobotics, did something last week that’s rare for tech workers these days: he picked up a call not from his living room or home desk, but from his office in the Seaport.