Ultra, which rents order-packing robots to warehouses, has raised $62 million and works with Physical Intelligence on the AI software.
US-based Ultra has raised $62 million in total: a $50 million Series A led by Framework Ventures and a $12 million seed round led by Y Combinator and Next View. Its robots have already packed more than half a million orders in US warehouses.
Ultra builds and installs the robot, and Physical Intelligence supplies the AI software that adapts it to each customer’s warehouse. Customers pay for the robot as a service, with no large upfront investment.
Splitting the machine from the AI model, and charging as a service, puts warehouse automation within reach of smaller businesses. It is the same logic we use in designing physical AI for our customers’ warehouses.
Source: Fortune