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OSARO raised $30 million in Series C funding, led by Octave Ventures. New participants in this round include Octave Ventures, J17 Capital, and Tomales Bay Capital. Existing investors AME Cloud Ventures, iRobot Corporation, King River Capital, and Founders Fund also contributed. This latest round brings OSARO’s total funding to date to $67.5 million. The company was founded in 2015, and closed its last round in December 2020.
OSARO plans to use this latest investment to accelerate global growth through market expansion and hiring, as well as extending its solution and support offerings. The company will also continue to enhance its core technology capabilities, including leveraging its machine learning platform into new automation applications.
OSARO’s solutions currently enable logistics operators to scale e-commerce order fulfillment, inventory induction & extraction, sortation, and singulation. The company’s robotic automation integrates with ASRS, AMRs, conveyor systems, and other materials handling equipment. The latest funding puts OSARO in a position to further expand its product line during the next two years.
Demand for logistics automation has dramatically accelerated in the past year due to a surge in e-commerce driven by the COVID-19 pandemic. This demand has enabled the company to secure robotics automation deployments in seven countries on five continents.
“This new funding will allow OSARO to expand our solution set and accelerate delivery to our customers,” said Derik Pridmore, co-founder and CEO of OSARO. “With dozens of customers on five continents, OSARO has built a global presence that we’re excited to expand. We look forward to collaborating with our customers to identify new opportunities where robotic solutions can help scale and improve operational performance. Our customers’ success is our success.”
“We are excited to help OSARO scale their business as they continue to widen their geographic targets and grow their product offering,” said Octave Ventures’ Michael Kim. “The market desperately needs this technology, and OSARO’s robotic automation solutions are ready for prime time.”