RightHand Robotics secures $66m funding
25th February 2022
RightHand Robotics, a leader in data-driven, autonomous robotic picking solutions for order fulfillment, has secured $66m in a Series C financing led by top growth investors: Safar Partners, a technology venture fund; Thomas H. Lee Partners L.P. (THL), a leading investor in automation and supply chain; and SoftBank Vision Fund 2, which is part of the SoftBank Group. Zebra Technologies, Epson and Global Brain also join this round, along with previous investors GV, F-Prime Capital, Menlo Ventures, Matrix Partners and Tony Fadell’s Future Shape. Previous rounds were led by Menlo Ventures and Playground Global.
RightHand Robotics intends to use the funds to accelerate product and business development, while scaling its global presence and partner network. The company will also expand its offices and invest in talent acquisition to support overall growth plans.
“The past few years have been an incredibly exciting time for us,” said Yaro Tenzer, CEO and co-founder of RightHand Robotics. “This Series C funding round attracted top-tier investors who know the space and share our vision that piece-picking automation enables predictable throughput with lights-out item handling, while meeting customer needs for scalable fulfilment services. We are eager to continue expanding our solution set and global presence to meet the needs of warehouse operators worldwide.”
“We have been believers in this company for a few years already,” said Arunas Chesonis, Managing Partner at Safar Partners. “The RightHand Robotics piece-picking solution has demonstrated year after year that autonomous robots are vital to solving the challenges of organisations from retail to pharmacy. The surge in e-commerce will continue even when the pandemic subsides, and we are eager to witness the continued maturation of the robotics industry in response to this global demand.”
“RightHand Robotics identified a challenge in the marketplace and responded with a solution that is intelligent, adaptable, and easy to integrate with adjacent software and automation solutions,” said Mike Kaczmarek, Managing Director at THL. “The company’s piece-picking solution enables customers from a diverse set of end markets such as e-commerce, grocery, and pharmaceuticals to streamline and scale their operations and supply chains.”
“Labor shortages are stretching global fulfilment to breaking point, prompting companies to invest more in automation to help improve efficiency and reliability,” said Ram Trichur, Partner at SoftBank Investment Advisers. “We believe that RightHand Robotics is a leader in supply chain logistics with a flexible, full-stack platform that can be integrated directly into customers’ existing systems to improve throughput while decreasing fulfilment costs. We are delighted to partner with Leif Jentoft and Yaro Tenzer and the team as they expand their international presence.”
“Zebra Technologies has been an active investor and solution provider to help businesses globally digitise and automate their supply chains and augment front-line workers,” said Tony Palcheck, Managing Director of Zebra Ventures, Zebra Technologies. “For customers across the consumer-packaged goods, retail, logistics and other industries, fulfilling orders with higher speed, accuracy, safety and cost savings is key, and RightHand Robotics helps achieve those efficiencies.”
RightHand Robotics delivers its innovative piece-picking solution, RightPick 3, with the aid of integration partners such as Element Logic, an AutoStore partner and one of Europe’s leading intralogistics companies; and Okamura, Japan’s leading provider of high-quality products and services for offices, education, commercial facilities and distribution centres. Through these collaborations, RightHand Robotics customers include PALTAC CORPORATION, Japan’s largest wholesaler of consumer packaged goods, and apo.com Group, Europe’s most advanced online pharmacy.
The RightHand Robotics RightPick platform streamlines the supply chain processes of warehouses with its innovative piece-picking robotic solution, which leverages AI software with intelligent grippers and machine vision. The result is an integrator-ready autonomous solution that empowers operating teams and meets the evolving needs of today’s fulfilment industry, as seen in this video.