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On August 10, 2021, Alta Material Handling (hereinafter referred to as AMH), the largest material transportation company in North America, announced its cooperation with Vecna Robotics, a fully autonomous mobile robot (AMR) company. The two parties will jointly develop AMR solutions for warehousing and transportation to support customers. The need for automated pallet handling within distribution, warehousing and manufacturing centers across the United States. At the same time, AMH will provide specification, sales and service for Vecna's full range of pallet handling solutions, including autonomous forklifts, pallet trucks and trailers.
At present, AMH's automation business accounts for about 1%, which means that Vecna Robotics will use AMR to realize the fully automatic transportation business of 1.8 billion pallets. Therefore, the scale of this business is almost the largest currently in the AMR industry.
Vecna was founded in 1998. In 2018, Vecna Robotics as its robotics department was separated from the parent company and operated independently. At a time when the term AMR had not yet entered the public consciousness, the company was determined to devote all its energy to the development of fully automated transportation solutions. It was not until 2018 that Vecna raised external financing for the first time, with a financing amount of US$13.5 million. Later, it conducted Series B financing in 2020, with the financing amount reaching US$50 million.
Vecna's flagship product is Pivot.al, an AI-based fleet manager that allocates and redistributes work between humans, robots and standard automation based on capabilities, location and operational priority. Pivot.al redesigns workflows in real time, mixing and matching tasks based on the unique capabilities of humans and robots to ensure current operational processes are aligned with current operational needs.
Compared with other AMR company collaboration software, Pivot.ai emphasizes human-machine collaboration and pays more attention to real-time. This also makes Vecna Robotics' application scope broader. VPivot.aI can realize fully autonomous transportation of 150,000 square feet. It is precisely because of this performance that is more in line with commercial needs that Vecna Rbotics has won the world's top customers such as Mitsubishi and GEODIS.
According to Frost & Sullivan's forecast, the AMR industry will reach US$6.8 billion in 2025. Among these, the biggest growth comes from automated warehousing, which requires AMR developers to provide flexible AMRs to meet different heights, weights and sizes within the site. Vecna Robotics' solutions are more in line with such needs, coupled with the parent company's innate customer relationship network, which makes Vecna Robotics a leader in the industry.