The company specialized in robotics for warehouses increases its valuation to $2 billion

Image: Locus robots in a warehouse. Credit: Locus Robotics.

On November 29, US-based Locus Robotics, a pioneer in autonomous mobile robots for fulfillment and distribution facilities, announced a $117 million Series F funding round led by Goldman Sachs Asset Management and G2 Venture Partners. The company’s valuation has risen to $2 billion.

With over 230 contract sites worldwide — some with as many as 500 LocusBots — the Locus solution aims to effectively and seamlessly orchestrate the operation and control of numerous robot form factors. The robots currently make an average of over three million picks every day.

CEVA Logistics, DHL, Material Bank, Boots UK, GEODIS, Ryder, Verst Logistics, and Radial are among Locus’ customers.

An IPO could come within 18–24 months.

This story was first published on The PhilaVerse (my Substack newsletter).

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Inflation didn’t deter shoppers after all…

Image by Speedy McVroom from Pixabay

As per figures from Adobe Analytics, U.S. e-commerce sales during Thanksgiving weekend this year beat expectations (despite the fact inflation is still very much present).

Here are some key points:

  • Cyber Monday (November 28) generated $11.3 billion in sales. That’s 5.8% higher than last year and a new all time record.
  • Black Friday (November 25) generated $9.12 billion (2.3% higher than 2021). Another record.
  • Mobile shopping sales were strong (about 50% of all sales).
  • Video games, drones, smart watches, laptops and toys were the most popular items.
  • Discounts were particularly agressive (which could partially explain the numbers).

Overall, the better than expected sales are a testament to the strength of e-commerce in America (which continues to grow).

This story was first published on The PhilaVerse (my Substack newsletter).

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You can now use a well-known AI model to create images within the design platform

Image by OpenClipart-Vectors from Pixabay (with added purple filters)

Popular design platform Canva is debuting a text-to-image AI tool. The company began testing the feature in September and is now making it fully available to its 100 million user base.

Here are some key points:

  • The tool is based on Stable Diffusion; the well-known open-source, deep learning text-to-image generator.
  • You can use such for free, even with the basic version of Canva.
  • Users can report newly generated images they find explicit and/or biased.

Of course, Canva is not the only creative platform to turn to text-to-image models (e.g. Microsoft Designer utilizing DALL-E) yet its ubiquity could be a great boost for the technology.

This story was first published on The PhilaVerse (my Substack newsletter).

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Phil Siarri

Phil Siarri

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Founder of Nuadox | Tech & Innovation Commentator | Digital Strategist | MTL | More about me> linktr.ee/philsiarri