Vecna Robotics

Last updated
Vecna Robotics, Inc.
Company typePrivate
Industry
Founded2018
Founders
  • Daniel Theobald [1]
  • Dan Patt [1]
Headquarters425 Waverley Oaks Dr,
Waltham, Massachusetts
,
United States
Key people
  • Karl Iagnemma (CEO) [2]
Products
  • Autonomous Counterbalanced Fork Truck
  • Autonomous Pallet Truck
  • Autonomous Tugger
  • Tote Retrieval System (TRS)
  • Pivotal Orchestration Engine
Services
  • Automated Material Handling
  • Hybrid Fulfillment
  • Workflow Optimization
Website vecnarobotics.com

Vecna Robotics, Inc. is an American robotics and technology company headquartered in Waltham, Massachusetts. [3] Incorporated in 2018 as a spin-off from Vecna Technologies, the company specializes in automated material handling, hybrid fulfillment and workflow optimization for industrial applications. [4]

Contents

In December 2017, the firm won the DHL & Dell Robotics Innovation Challenge for developing the Tote Retrieval System (TRS), [5] an automated guided vehicle (AGV) capable of warehouse navigation and mobile piece-picking from conventional shelves. [5]

History

Vecna Robotics originated as a division of Vecna Technologies, [6] which had been founded in 1998 by MIT engineering alumni, Daniel Theobald. [7] According to a December 2017 profile of Theobald by Forbes contributor, Frederick Daso, the company name ‘Vecna’ is derived from the Czech word věčný, fem. věčná, meaning ‘eternal’. [8] Vecna Technologies focused primarily on health-care software development, while the robotics division engaged in research for the U.S. Navy, U.S. Air Force and National Aeronautics and Space Administration. [9] [10] [11]

The company was later based in Cambridge, MA and supported efforts to build the Massachusetts Robotics Cluster. [3] [12] [13]

In the mid-2000s era, Vecna Robotics received funding from the U.S. Army, DARPA and other government agencies to develop the Battlefield Extraction-Assist Robot (BEAR). [14] [15] The humanoid robot was originally designed to rescue wounded soldiers from the battle field, but as the company refined and adapted its robotics software, other commercial applications became evident. [14] [16] [17] In turn, Vecna Robotics abstracted its autonomy software or "brain" from the BEAR's physical hardware and utilized the same methodology to develop a range of logistics robots. [16] [18] In April 2012, the QC Bot, a robotic courier, was piloted in hospitals to distribute medicine and food. [19] The company's product expansion continued in April 2017 when additional logistics robots became generally available to the industrial sector. [4] Concurrently, Vecna Robotics was established as a wholly owned subsidiary of Vecna Technologies. [20] [21] The separation positioned Vecna Robotics to seek outside investment as well as specialize in autonomous mobile solutions for manufacturing and warehouse applications. [20] [21]

In January 2018, Daniel Patt, the former deputy director of DARPA's Strategic Technology Office (STO), joined as CEO. [22] [23] The same year, Vecna Robotics spun out from former parent, Vecna Technologies. [3] 60 existing employees transferred to positions in the new company. [3] According to a filing with the SEC, Vecna Robotics reincorporated in Delaware and raised $13.5 million in a funding round that began August 14, 2018. [1] The round was led by Columbus, Ohio-based venture capital firm, Drive Capital, and marked the first outside equity investment in the new company Vecna Robotics. [22] [24] In January 2020, an additional $50M in investment was announced along with a change of leadership as Theobald took over as CEO. [25]

In June 2021, the company announced former founder and CEO of Lifesize Craig Malloy as CEO. [2]

In January 2022, the company announced a series C raise led by Tiger Global with participation from Lineage Logistics, Proficio Capital Partners, and IMPULSE, bringing the company's total capital raised to $128.5 million. [26]

In March 2022, the company released the industry's first co-bot pallet jack in partnership with forklift maker Big Joe. [27]

Technology

Vecna Robotics’ automated material handling product line includes the RC20 Conveyor, RC500 Conveyor, RL350 Lifter, RL3600 Pallet Truck, RT4500 Tugger and the Tote Retrieval System (TRS). [28] [29] As of October 2018, the company's RL3600 Pallet Trucks were deployed at Milton CAT's Milford, Massachusetts distribution center to increase fulfillment speed. [30] The RL3600 addressed the problem of retrieving slow-selling items stored at long walking distances. [30] In March 2018, a fleet of six RT4500 Tuggers were profiled by Cade Metz in The New York Times as new “robotic colleagues” at the FedEx industrial shipping hub in Kernersville, North Carolina. [31] In this warehouse application, the tuggers pull trains of carts with bulky goods such as car tires or canoes to manage a growing percentage of eCommerce orders for items unable to fit on conveyor belts. [31] In addition to Vecna Robotics’ hardware line, the company also developed artificial intelligence (AI) software designed to integrate warehouse management systems, robotics and human workflow. [20] [32]

References

  1. 1 2 3 Vecna Robotics, Inc. "SEC Form D". United States Securities and Exchange Commission . Retrieved December 11, 2018.
  2. 1 2 Demaitre, Eugene (June 8, 2021). "Vecna Robotics Names Craig Malloy as CEO, as Mobile Robot Demand Surges". Robotics247. Retrieved June 8, 2021.
  3. 1 2 3 4 Tobe, Frank (March 24, 2018). "Quiet Inroads in Robotics: Vecna's Story". The Robot Report. Retrieved December 11, 2018.
  4. 1 2 Banker, Steve (February 6, 2018). "Distinctive Warehouse Robotics Solutions Are Emerging". Forbes . Retrieved December 11, 2018.
  5. 1 2 Crowe, Steve (December 13, 2017). "Vecna Tote Retrieval System Wins Mobile Picking Robot Challenge". Robotics Business Review. Retrieved December 11, 2018.
  6. ↑ RBR Staff (February 17, 2010). "Vecna Throws Hat into Robotics Ring". Robotics Business Review. Retrieved December 15, 2018.
  7. ↑ Barr, Julie (May 5, 2015). "Robot Road Race Helps Save Lives [VIDEO]". MIT Alumni Association. Retrieved December 11, 2018.
  8. ↑ Daso, Frederick (December 18, 2017). "Bill Gates And Elon Musk Are Worried For Automation - But This Robotics Company Founder Embraces It". Forbes . Retrieved December 11, 2018.
  9. ↑ Seiffert, Don (June 14, 2013). "Research grants let Vecna stay true to startup principles". Boston Business Journal . Retrieved December 13, 2018.
  10. ↑ Bray, Hiawatha (April 3, 2017). "Vecna aims new wave of robots for warehouses". Boston Globe . Retrieved December 11, 2018.
  11. ↑ "SBIR Award Listing: Vecna Technologies, Inc". Small Business Innovation Research . Retrieved December 13, 2018.
  12. ↑ Huang, Gregory T. (July 16, 2015). "Vecna and VGo Are Now One: An Important Robotics Acquisition". Xconomy . Retrieved January 28, 2019.
  13. ↑ Nickerson, Russell (2009). "Pioneering the Personal Robotics Industry" (PDF). Bridgewater State University Undergraduate Review. 5 (1): 136. Retrieved January 20, 2019.
  14. 1 2 Silverstein, Jonathan (December 20, 2006). "The BEAR: Soldier, Nurse, Friend and Robot". ABC News . Retrieved December 13, 2018.
  15. ↑ Barrie, Allison (March 29, 2012). "Teddy bear-faced robot is built for battlefields". Fox News . Retrieved December 11, 2018.
  16. 1 2 Weinberger, Sharon (November 18, 2014). "Next generation military robots have minds of their own". BBC . Retrieved December 11, 2018.
  17. ↑ Vallor, Shannon (2016). Technology and the Virtues: A Philosophical Guide to a Future Worth Wanting. Oxford University Press. p. 213. ISBN   9780190498511 . Retrieved December 19, 2018– via Google Books.
  18. ↑ Daniel Theobald (December 22, 2017). "Boston-Area Companies Push For Robot Workers In Warehouses Under Holiday Crunch" (radio broadcast). WBUR-FM Bostonomix. Interviewed by Asma Khalid. Retrieved December 13, 2018.
  19. ↑ Overly, Steven (April 8, 2012). "At Vecna Technologies, low funding for BEARs leads to building Bots". Washington Post . Retrieved December 18, 2018.
  20. 1 2 3 Engel, Jeff (April 3, 2017). "Vecna Reorganizes, Pushes Logistics Robots in Hot Market". Xconomy . Retrieved December 15, 2018.
  21. 1 2 Andersson, Thomas (February 2018). Goods-to-Person Ecommerce Fulfillment Robotics 2018 (Report). Styleintelligence. p. 24. Retrieved December 18, 2018.
  22. 1 2 DC Velocity Staff (December 3, 2018). "Backed by new VC, Vecna Robotics spins off from parent company". DC Velocity. Retrieved December 11, 2018.
  23. ↑ Engel, Jeff (January 17, 2018). "From DARPA to Vecna: New CEO on How Automation Can "Elevate" Humans". Xconomy. Retrieved December 13, 2018.
  24. ↑ Engel, Jeff (August 30, 2018). "Vecna Robotics Grabs $13.5M, Led by Drive, as Logistics Robots Stay Hot". Xconomy. Retrieved December 11, 2018.
  25. ↑ Smith, Jennifer (January 7, 2020). "Warehouse Robotics Startups Drawing Bigger Investor Backing". Wall Street Journal. Retrieved January 7, 2020.
  26. ↑ Wiggers, Kyle (January 26, 2022). "Vecna Robotics raises new capital as the warehouse automation industry grows". VentureBeat. Retrieved January 26, 2022.
  27. ↑ Allinson, Mark (March 23, 2022). "Vecna Robotics partners with forklift maker Big Joe to launch robotic pallet jack". Robotics and Automation News. Retrieved March 23, 2022.
  28. ↑ Britt, Phil. "10 Robots That Can Speed Up Your Supply Chain" (PDF). Robotics Business Review. RBR Insider White Paper. pp. 11–12. Retrieved January 2, 2019.
  29. ↑ "Company Profile: Vecna Robotics". Robotics Industries Association. Retrieved December 11, 2018.
  30. 1 2 RBR Staff (October 30, 2018). "Innovation at Work: Vecna Robotics Helps Milton CAT Develop a Flexible Workflow". Robotics Business Review. Retrieved December 11, 2018.
  31. 1 2 Metz, Cade (March 18, 2018). "FedEx Follows Amazon Into the Robotic Future". The New York Times . Retrieved December 11, 2018.
  32. ↑ "Autonomous Robots Take On Dangerous Warehouse Jobs". NASA Spinoff . 2018. Retrieved December 18, 2018.
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