Westlake Village-based robotics company inVia Robotics announced Wednesday that it raised $30 million in a Series C round co-led by Qualcomm Technologies and Microsoft’s M12 Ventures.
The latest raise follows what has been an outstanding year of growth for the company. Last year, inVia grew its revenue by 600 percent.
inVia’s autonomous mobile robots are used to optimize flow across shipping and fulfillment centers. The robots are powered by an AI-driven warehouse software that results in up to a 5x increase in productivity, according to inVia.
There’s no doubt that the pandemic has highlighted the need to optimize technology in the e-commerce space and several LA-based shipping logistics companies, in addition to inVia, have been reaping the financial benefits.
“Global e-commerce adoption is experiencing exponential growth resulting in the need for robust warehouse optimization solutions,” Quinn Li, senior vice president of Qualcomm Technologies, said in a statement. “inVia’s AI-powered warehouse automation solutions help improve warehouse throughput and workflow efficiency.”
The U.S. e-commerce industry experienced 44 percent year-over-year growth from 2019 to 2020, according to Digital Commerce 360.
“inVia’s integrated solution enables warehouse managers to take advantage of operational and cost efficiencies that have historically only been available to large enterprises,” James Wu, a principal for M12, said in a statement. “inVia’s pre-built integrations with warehouse management systems are making scalable customization accessible to companies of all sizes.”
inVia’s subscription-based platform covers all of the operating costs associated with its robots, software and digital troubleshooting.
The robotics company plans to use the additional capital to expand its reach as well as its operational support network across North America. inVia also plans to expand its team and currently has nine positions up for grabs at its Westlake Village HQ, according to its company website.
Moving forward, the company also plans to invest in its strategic partnerships. inVia plans to work with Qualcomm by utilizing its Robotics RB5 platform, which the company touts as the world’s first 5G and AI-powered robotics platform.
inVia has raised $59 million in venture capital financing to date, according to the company.
Additional investors Hitachi Ventures, Point 72 and Upfront participated in the round, among others.
