June 11, 2020
Last week, warehouse robotics startup Locus Robotics announced that it raised $40 million in Series D funding as more companies are looking to automation as a way to the future. In an October 2019 report, ABI Research said that over four million commercial robots will be installed in over 50,000 warehouses around the world by 2025. For context, this is up from just under 4,000 warehouses in 2018. Rick Faulk, CEO of Locus Robotics, joined Closing Bell and discussed how economic factors surrounding the coronavirus pandemic has led to an increase in demand for his company.