Warehouse robot startup BotsAndUs raises £11m
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.