Editor's PickInvesting

Warehouse robot startup BotsAndUs raises £11m

1 Mins read

Autonomous warehouse robot maker BotsAndUs has secured $13m (£10.6m) in a seed round led by Swiss venture capital firm Lakestar.

London-based BotsAndUs will use the capital to develop its robots that are used to measure, track and locate stock in a warehouse.

The startup’s robots use artificial intelligence (AI) to create a digital twin of a warehouse. That mapping data can then be used by operators to them run logistics more efficiently in the warehouse.

BotsAndUs is also eying international expansion into new markets such as Germany, France, the Nordics, the US and Canada.

Christoph Schuh, partner, Lakestar said: “More than 80% of warehouses have no automation at all. With warehouses expected to grow by 50% by 2025 and labour shortages of over 30%, automation clearly holds the key to ensuring logistics operations are as optimised as possible.”

Founded in 2015, BotsAndUs works with Menzies Aviation, an air cargo business that is used by London Heathrow Airport.

BotsAndUs recently entered a partnership with container logistics company Maersk to explore the application of its robots in one of its warehouses, initially to carry out automated inventory management.

“It’s an exciting time for tech in London, and robotics and AI is one of our most innovative growth sectors. This welcome investment in BotsAndUs further cements our position as a global hub for innovation and venture capital,” said Rajesh Agrawal, deputy mayor, London for Business.

The round saw additional capital come from investors Maersk Growth, Kindred Capital, and Capnamic. It follows BotsAndUs’s $6m (£4.9m) investment in July 2020.

Venture capital firm Lakestar’s previous backings include the likes of Skype, Spotify, Facebook and Airbnb. It manages €1.2bn (£1bn) across three early-stage funds and a growth fund.

Related posts
Editor's PickInvesting

Workers at UK’s biggest container port in Felixstowe to walk off the job for eight days

2 Mins read
Workers at the UK’s biggest container port will go on strike for more than a week later this month in a dispute…
Editor's PickInvesting

Covid loans make UK taxpayers shareholders in cannabis oil firm

2 Mins read
British taxpayers are now shareholders in a further 65 companies because of a government rescue funding scheme set up during the Covid…
Editor's PickInvesting

Twitter says Musk is ‘conjuring’ excuse to escape takeover deal

2 Mins read
Twitter has rejected Elon Musk’s claims in court that he had legitimate reasons to back out of a $44bn deal to purchase…
Power your team with InHype
[mc4wp_form id="17"]

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *