Locus robots help deliver a 2X-3X increase in productivity
Customer base includes over 90 leading global companies, including DHL (ETR:DPW), and over 230 sites under contract worldwide
Robotics-as-a-Service (“RaaS”) pricing model paves the way for increased adoption of its solutions – eliminating the need for customers to incur a large, upfront capital expenditure
Locus successfully raised $117 million USD as part of its Series F funding, at a valuation close to $2 billion USD
TORONTO, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Stack Capital Group Inc. (TSX:STCK and STCK.WT) (“Stack Capital”), an investment holding company that invests in some of the world’s most innovative and disruptive growth & late-stage private companies, is pleased to announce that it has invested $8 million USD into preferred shares of Locus Robotics, Inc. (“Locus” or the “Company”), a leading provider of enterprise robotics solutions for some of the world’s most dynamic warehouses and leading brands operating in third-party logistics, retail & e-commerce, healthcare, and the industrial sectors. Stack Capital’s investment was part of the recently announced $117 million USD Series F funding which brought its valuation close to $2 billion USD and included Goldman Sachs Asset Management (NYSE:GS), G2 Venture Partners, SuRo Capital, Next 47, Stafford Capital Partners, HESTA, Newton Investment Management North America, Gray’s Creek Capital, Silicon Valley Bank, Hercules Capital, Inc., BOND, and Scale Venture Partners.
Designed to work collaboratively alongside human labor, Locus’ suite of robots transform large-scale warehouse fulfillment and distribution facilities with industry-leading, intelligent, and dynamically scalable solutions that reduce costs, improve productivity, and enhance overall efficiency. Its RaaS pricing model dramatically reduces the upfront costs typically associated with outfitting a warehouse facility, saving its clients a significant capital expenditure. Combined with monthly operating savings in the form of a 2X-3X increase in productivity, and a large reduction in the cost per pick, the return on investment for customers is fast – making Locus a clear and compelling value add.
“Locus has built an impressive platform of robotic solutions during the past several years and we’re extremely excited to invest into the business,” said Jeff Parks, Chief Executive Officer of Stack Capital. “As an innovative leader in flexible and intelligent robotics automation, Locus is uniquely positioned to help modern warehouse facilities deal with operating challenges such as labor shortages, compressed margins, reliability, along with the overall need to become more efficient. With an attractive RaaS pricing model, a quick ROI for new customers, and growing adoption within its existing customer base of leading third-party logistics and retailers – the future for Locus looks extremely bright.”
To access Stack Capital’s investment overview on Locus, along with any of its other portfolio investments, click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Stack Capital common shares and warrants on the Toronto Stock Exchange. At the same time, the public structure also allows Stack Capital to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. has taken the initiative in creating Stack Capital and acts as Stack Capital’s administrator and is responsible to source and advise with respect to all investments for Stack Capital.