As COVID-19 continues to bolster the global delivery and logistics market, warehouse robotics startup Geek+ today announced it has extended its series C funding round to $200 million, up from $150 million in July 2019. The company says the deal, which closed earlier this year, will support expansion of its robot-as-a-service program and its relationships with technology and ecosystem partners.
Worker shortages caused by the pandemic have prompted some retailer, fulfillment, and logistics companies to accelerate the rollout of mobile robots. Gap more than tripled the number of item-picking machines it uses to 106, while Amazon says it’s relying more heavily on automation for product sorting. According to ABI Research, more than 4 million commercial robots will be installed in over 50,000 warehouses around the world by 2025, up from just under 4,000 warehouses in 2018.
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