London robotics firm BotsAndUs said it was readying an international expansion today after closing a $13m funding led by European venture outfit Lakestar.
London-headquartered BotsAndUs, which uses robots to process pallets and automate warehousing processes, is looking to tap into a rising global demand for warehousing tech after supply chains have been stretched to breaking point over the past two years.
Bosses said today it would now channel the seed round into an expansion and product developments in markets including Germany, France, Nordics and the US, where warehouse automation was still nascent and demand was set to balloon.
“We’re confident we can make our vision a reality: transforming logistics on a global scale with real time data to eliminate errors and enhance performance across all steps” co-founder and boss Andrei Danescu said.
BotsAndUs said firms were increasingly looking to roll out the warehousing robots, with 69 per cent of businesses now looking to shave costs off logistic processes and gain better control of their inventories.
Warehousing capacity is expected to grow by 50 per cent by 2025, the firm said, but more than 80 per cent of warehouses have no automation and are facing down labour shortages of over 30 per cent. Investor Lakestar said automation “holds the key” to easing snarled supply chains as firms grapple with stretched capacity and lack of staff.
Mayor of London Rajesh Agrawal, Deputy Mayor of London for Business, said today the fresh investment into BotsandUs was a vote of confidence in the capital’s tech sector.
“It’s an exciting time for tech in London, and robotics and AI is one of our most innovative growth sectors,” he said. “This welcome investment in BotsAndUs further cements our position as a global hub for innovation and venture capital.”