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Vecna Robotics Closes $100M Funding Round, Sets Sights on Streamlining IIoT Automation

By Alex Passett
June 24, 2024

Happy Monday, readers.

If any of you are outwardly (or perhaps secretly) nerds like me, you may have heard the name “Vecna” before; the name pops up across the Dungeons & Dragons landscape, in the hit Netflix show Stranger Things, and elsewhere.

Whether or not that name rings a pop culture bell, it may actually end up ringing an IoT-adjacent bell for some of y’all – particularly, in the form of Vecna Robotics and its tagline “Vecna robots that make your business go.”

The long-story-short of it is simple: Vecna Robotics is dedicated to a future where flexible, material-handling robots do what can be defined as “the dirty work,” opening more opportunities for actual people to do “the human work.” Vecna, from the company’s inception, has been obsessed by the promise of intelligent industrial workforce innovations; ones that drive autonomous workflows and real transformational efficiency. Therefore – in the vein of optimizing cost-saving measures, especially in warehouse settings – Vecna Robotics has been trusted by the likes of Caterpillar, FedEx, John Deere and Petco with robotics that yield ROI in approximately one year or less, with 24/7 remote monitoring bells and whistles for all robotics deployed in an organization’s fleet.

That’s the Vecna context; now, the Vecna-related news:

Last week, Vecna Robotics announced the close of its successful Series C funding round at $100 million. Participants in this round included Tiger Global Management, Proficio Capital Partners, and IMPULSE.

According to the official announcement, the funding “will be used to fund new workflow-specific innovations that enable the company to deliver rapid ROI to cost-conscious warehouse operators served by the $165 billion pallet-moving autonomy market.”

Furthermore, Vecna Robotics has also paired this funding news with the appointment of a new COO – Michael Helmbrecht, who brings 20 years of experience to the job and will reportedly be overseeing operations, IT, manufacturing and more to ensure that Vecna continues meeting customer-defined performance guarantees.

“Finalizing this capital raise, with the help of our existing investors and a new financing partner is huge validation that we are on the right track,” said Craig Malloy, CEO at Vecna Robotics. “With fresh capital secured, we have the balance sheet to help us drive growth with our existing customers through improved product performance and the release of new automation technology that will change the game for material handling in warehousing and distribution.”

Learn more about Vecna’s offerings here.

Edited by Greg Tavarez
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