Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Fox Robotics, a US-based warehouse automation company, closed a $9m series A round yesterday backed by Congruent Ventures, the sustainability-focused venture firm associated with University of California. The round was led by Menlo Ventures also included Eniac Ventures, La Famiglia, SignalFire and AME Cloud Ventures. Founded in 2018, Fox Robotics produces automated forklifts that can be installed in less than a day to navigate hazardous tasks such as unloading trailers without affecting or damaging the warehouse’s environment. The forklifts rely on computer vision algorithms to detect obstacles such as pallets, sparing the need for sensors to be installed around the facility. The capital will go to increased manufacturing to help Fox Robotics cope with anticipated demand. Fox Robotics previously raised funding from Congruent Ventures at an undisclosed date.
