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Vecna Robotics

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Vecna Robotics, Inc.
Company typePrivate
Industry
Founded2018
Founders
  • Daniel Theobald [1]
  • Dan Patt [1]
Headquarters425 Waverley Oaks Dr,
Waltham, Massachusetts
,
United States
Key people
  • Craig Malloy (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
Websitevecnarobotics.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]

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

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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

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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

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  1. ^ a b c Vecna Robotics, Inc. "SEC Form D". United States Securities and Exchange Commission. Retrieved December 11, 2018.
  2. ^ a b Demaitre, Eugene (June 8, 2021). "Vecna Robotics Names Craig Malloy as CEO, as Mobile Robot Demand Surges". Robotics247. Retrieved June 8, 2021.
  3. ^ a b c d Tobe, Frank (March 24, 2018). "Quiet Inroads in Robotics: Vecna's Story". The Robot Report. Retrieved December 11, 2018.
  4. ^ a b Banker, Steve (February 6, 2018). "Distinctive Warehouse Robotics Solutions Are Emerging". Forbes. Retrieved December 11, 2018.
  5. ^ a b 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. ^ a b 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. ^ a b 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. ^ a b c Engel, Jeff (April 3, 2017). "Vecna Reorganizes, Pushes Logistics Robots in Hot Market". Xconomy. Retrieved December 15, 2018.
  21. ^ a b Andersson, Thomas (February 2018). Goods-to-Person Ecommerce Fulfillment Robotics 2018 (Report). Styleintelligence. p. 24. Retrieved December 18, 2018.
  22. ^ a b 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. ^ a b 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. ^ a b 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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