Third Wave Automation (TWA) is a developer of high-reach autonomous forklifts designed for warehouse automation. Its “TWA Reach” forklift offers the ability to operate in four different modes: 1) fully autonomous, 2) remote operation, 3) remote assist, and 4) manual operation. The forklift fleet is supported by a fleet management platform powered by machine learning and AI. The platform’s features include remote operation and assistance, intelligent fleet management, and visibility solutions for effective fleet management. The platform can be integrated with existing workflows by leveraging warehouse management systems. The company offers its products using a robots-as-a-service (RaaS) business model.
Key customers and partnerships
TWA began pilot testing of its products in February 2023. As of May 2024, its solutions were actively used by customers like C.H. Robinson Worldwide and Holman Logistics.
The company has product partnerships with 1) forklift trucks and aftermarket parts manufacturer CLARK Material Handling Company to develop TWA Reach (March 2022) and 2) Toyota Industries to manufacture the forklifts (May 2021).
Funding and financials
In February 2023, TWA received an undisclosed strategic investment from Qualcomm Ventures and Zebra Technologies to expand its product offering and the applications of its technology and to scale the production of its forklifts.
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