Vecna Robotics to double in size after $50M round

Vecna Robotics to double in size after $50M round

1.16.20

After unifying its manufacturing facility, testing space and offices into a single location in Waltham last year, Vecna Robotics Inc. is planning to add employees to its headquarters thanks to new funding.

The maker of autonomous warehouse robots is planning to use part of a new $50 million round to double its workforce over the next couple of years, according to CEO Daniel Theobald.

Vecna Robotics, which now has between 90 and 100 employees, announced the Series B round on Tuesday. Led by Blackhorn Ventures, an early-stage venture capital firm based in Colorado, the fundraise brings Vecna Robotics’ total funding to $63.5 million.

The company’s robots can be either fully autonomous or occasionally driven by humans; they can also handle both regular boxes and irregularly shaped items. The company booked closely $30 million in revenue in 2019, according to Theobald, and includes among its customers FedEx Ground and DHL Supply Chain. However, Theobald pointed out that Vecna Robotics is largely a software company.

Read the full article in The Boston Business Journal.