Kiva robots transport goods at an Amazon Fulfillment Center, ahead of the Christmas rush, in Tracy, California, November 30, 2014. REUTERS/Noah Berger
A few years ago, Amazon.com Inc triggered a robot arms race when it purchased a company called Kiva Systems, maker of automated warehouse robots. Now its competitors are landing bigger and bigger cash injections to lay low the e-commerce giant.
Locus Robotics, a spinoff of a warehouse company that decided to build its own robots after the Amazon deal back in 2012, raised another US$25mil (RM103.30mil) in venture capital, bringing its total funding to more than US$33mil (RM136.36mil), the company announced last week.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
