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BMW i Ventures* has announced that its lead investment in Fox Robotics**, was over-subscribed by ~$20M. What’s said to be the world’s first intelligent forklift that can autonomously unload pallets from the trailer to the receiving dock attracted additional new investors including Zebra Technologies, Japan Airlines and Translink Innovation Fund and Foothill Ventures. Existing investors at Menlo Ventures, ENIAC Ventures, and SignalFire also participated in the round.
While it is abundantly clear that autonomous vehicles are not yet ready for mass deployment on public streets, the same technology is being commercially used in closed warehouse environments today. (see autoinformed.com on Ford and VW write-offs: Ford Motor Posts Q3 Net Loss of $827 Million) Fox retrofits a standard forklift with sensors and software to enable autonomous material handling operations with precise navigation and robust pallet picking and movement. Deep learning systems use on-board cameras and LiDAR sensors to detect pallets, boxes and other obstacles in real time and enable the forklift to pick pallets out of trailers it is seeing for the first time, Fox claimed.
“Supply chain efficiency and resiliency are top of mind for many companies today. Fox Robotics’ autonomous forklifts allow customers to handle loads quicker and safer while increasing overall workplace productivity,” said Kasper Sage, Managing Partner at BMW i Ventures. “We’re excited for Fox Robotics’ next phase of growth, bringing intelligent automation solutions to the global supply chain.”
DHL Supply Chain, the global and North American contract logistics organization within Deutsche Post DHL Group, was Fox’s first customer and is said to be rapidly deploying the technology across its network of warehouses.
“Unloading trailers is a particularly challenging autonomy problem due to demanding operating environments, high throughput requirements, unknown load patterns, and the vehicles needing to be robust to frequent shocks and vibrations,” said Peter Anderson-Sprecher, Co-Founder & CEO of Fox Robotics. “The key to our success to-date has been our ability to deploy our solutions to customers and rapidly learn and improve in live production environments”
*About BMW i Ventures
BMW i Ventures is BMW’s venture capital firm, investing money and resources in startups in the fields of Transportation, Manufacturing, Supply Chain and Sustainability. The firm has made many successful investments over the years in companies such as Blackmore, Chargepoint, CelLink, Proterra, Solid Power, Tekion, Xometry and many more. BMW i Ventures invests in all stages from seed to growth with a focus on Series A/B.
**About Fox Robotics
Fox Robotics develops, manufactures, and sells what it says is the world’s first intelligent autonomous forklift trailer unloader. Fox can reduce forklift operating costs by up to 2x and aims to automate 20% of the 1.5 million forklifts sold annually (a $7.5 billion market). Fox is headed by Peter Anderson-Sprecher, who built robots and led robotic teams at Google Robotics, Google X, Carnegie Mellon, General Dynamics, MIT, Georgia Tech, and KUKA.
Autonomous Forklift Startup Backed By BMW i Ventures
Click for more information.
BMW i Ventures* has announced that its lead investment in Fox Robotics**, was over-subscribed by ~$20M. What’s said to be the world’s first intelligent forklift that can autonomously unload pallets from the trailer to the receiving dock attracted additional new investors including Zebra Technologies, Japan Airlines and Translink Innovation Fund and Foothill Ventures. Existing investors at Menlo Ventures, ENIAC Ventures, and SignalFire also participated in the round.
While it is abundantly clear that autonomous vehicles are not yet ready for mass deployment on public streets, the same technology is being commercially used in closed warehouse environments today. (see autoinformed.com on Ford and VW write-offs: Ford Motor Posts Q3 Net Loss of $827 Million) Fox retrofits a standard forklift with sensors and software to enable autonomous material handling operations with precise navigation and robust pallet picking and movement. Deep learning systems use on-board cameras and LiDAR sensors to detect pallets, boxes and other obstacles in real time and enable the forklift to pick pallets out of trailers it is seeing for the first time, Fox claimed.
“Supply chain efficiency and resiliency are top of mind for many companies today. Fox Robotics’ autonomous forklifts allow customers to handle loads quicker and safer while increasing overall workplace productivity,” said Kasper Sage, Managing Partner at BMW i Ventures. “We’re excited for Fox Robotics’ next phase of growth, bringing intelligent automation solutions to the global supply chain.”
DHL Supply Chain, the global and North American contract logistics organization within Deutsche Post DHL Group, was Fox’s first customer and is said to be rapidly deploying the technology across its network of warehouses.
“Unloading trailers is a particularly challenging autonomy problem due to demanding operating environments, high throughput requirements, unknown load patterns, and the vehicles needing to be robust to frequent shocks and vibrations,” said Peter Anderson-Sprecher, Co-Founder & CEO of Fox Robotics. “The key to our success to-date has been our ability to deploy our solutions to customers and rapidly learn and improve in live production environments”
*About BMW i Ventures
BMW i Ventures is BMW’s venture capital firm, investing money and resources in startups in the fields of Transportation, Manufacturing, Supply Chain and Sustainability. The firm has made many successful investments over the years in companies such as Blackmore, Chargepoint, CelLink, Proterra, Solid Power, Tekion, Xometry and many more. BMW i Ventures invests in all stages from seed to growth with a focus on Series A/B.
**About Fox Robotics
Fox Robotics develops, manufactures, and sells what it says is the world’s first intelligent autonomous forklift trailer unloader. Fox can reduce forklift operating costs by up to 2x and aims to automate 20% of the 1.5 million forklifts sold annually (a $7.5 billion market). Fox is headed by Peter Anderson-Sprecher, who built robots and led robotic teams at Google Robotics, Google X, Carnegie Mellon, General Dynamics, MIT, Georgia Tech, and KUKA.