Locus Robotics, Inc., a Wilmington-based e-commerce fulfillment robotics company, raised $8m in Series A funding.
The round was led by seed investors.
The company intends to use the funds to expand product development and commercialization initiatives.
Led by newly hired CEO Rick Faulk*, Michael Johnson, Co-Founder and President/COO, and Bruce Welty, Co-Founder and Chairman, Locus Robotics has leveraged direct warehouse operations experience and knowledge of warehouse robotics to engineer a new fulfillment operations platform that allows operators to flexibily move inventory and orders through a fulfillment center and manage complex demands of channel partners and consumers.
*Faulk founded Intranets.com, an internet collaboration service which was sold to WebEx in 2005. He also led the successful exit of LandslideCRM to j2 Global in 2012.
He was recently CEO of Intronis, a cloud back-up and recovery service, which was sold to Barracuda Networks in October 2015.
Mr. Faulk has also served in key executive positions at Lotus Development, Shiva, PictureTel, WebEx, Mzinga & j2 Global. He currently sits on the board of directors at Influitive, Hostway and Ontegrity.