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Third Wave Automation (TWA) introduced that it introduced in a strategic funding from Qualcomm Ventures and Zebra Technologies. The newest funding brings the corporate’s complete funding because it was based in 2018 to $70 million.
TWA introduced in $15 million in 2020 as its Series A spherical and raised one other $40 million in 2021, which means this funding could possibly be for as much as $15 million.
This funding will assist TWA put money into new merchandise, as its autonomous forklift product, Third Wave Automation Reach, expands its choose pilot packages. TWA Reach is a totally automated attain truck that may deal with any pallet or payload from the warehouse ground to the rack. The system makes use of TWA’s core automation know-how and collaborative autonomy platform which allows distant operation and help, clever fleet administration and steady studying capabilities.
“After successfully deploying our solution with key pilot customers, we are excited to expand the TWA Reach pilot program. This enables us to explore additional automation workflows and continue deploying flexible forklift automation technology,” Arshan Poursohi, TWA’s co-founder and CEO, stated. “With the strategic investment from Qualcomm Ventures and Zebra Technologies, we look forward to scaling production of our forktrucks, deploying them with new customers in a wide variety of sites, continuing to innovate with new applications and additional materials handling vehicles, and perfecting our fleet management.”
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With the brand new funding, TWA hopes to increase its market choices, speed up new merchandise for automating different lessons of forklifts, like slim aisle and counterbalance vehicles, and combine with different robotics merchandise, like from Fetch Robotics, a subsidiary of Zebra Technologies and autonomous cell robotic (AMR) supplier.
“As our supply chain customers continue to battle labor shortages, they are turning to automation solutions to improve productivity. TWA’s autonomous, high-reach fork trucks streamline warehouse workflows, enabling operators to increase throughput and lower costs while also improving worker safety,” Tony Palcheck, managing director of Zebra Ventures at Zebra Technologies, stated. “TWA’s approach aligns with Zebra’s goals, and we look forward to working with Arshan and the Third Wave team to improve material handling operations.”
TWA Reach was lately featured in The Robot Report’s “Best robots of CES 2023“. The article highlighted TWA Reach’s three operational modes: (1) handbook; (2) distant operation; (3) totally autonomous operation.