Westlake Village robotics firm closes $30M funding round
InVia Robotics, a Westlake Village-based warehouse automation solution company, secured $30 million in a Series C funding round announced July 28, led by M12, Microsoft’s venture fund, and Qualcomm Ventures.
To date, inVia has raised $59 million in funding.
With this investment, inVia said it plans to extend its products’ reach and operational support in North America and will expand with new supply chain partners.
InVia specializes in the robotics-as-a-service model, giving companies of any size the opportunity to deploy autonomous mobile robot fleets to meet their needs. It operates on a subscription-based payment system, where businesses pay according to the productivity levels they desire, rather than leasing and maintaining the equipment.
This latest capital raise comes on the heels of a record fiscal year for inVia. According to the company, its revenue that grew by 600% from 2019 to 2020. Growth was driven by a heightened demand for optimization technology in e-commerce fulfillment, spurred by the pandemic, inVia said.