Robotics company fetches big bucks on strong growth
Summary
Fetch Robotics, a company that makes automation systems for warehouses, just announced $46 million in Series C funding. The round brings Fetchs total funding to $96 million and firmly establishes the once-scrappy newcomer as a force in a new generation of flexible industrial automation. Companies like Fetch and its competitors, which include Locus Robotics and Geek+, are filling that need with flexible automation offerings. Smyrna, the company points out, has one of the lowest overall unemployment rates in the US at 2.4%, making it challenging to find qualified workers. "In Smyrna as in many markets we serve, we face chronic labor shortages, at times in excess of 10% of our required staff, which puts significant pressure on everyone from the workers on the floor to senior management," according to Universal CEO Jeff Rogers.
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