• RightHand Robotics, a provider of autonomous robotic picking solutions, has raised USD 66 million in a Series C round led by Safar Partners, Thomas H. Lee Partners L.P., and SoftBank Vision Fund 2 with participation from several existing investors. There was also participation from Zebra Technologies and Epson as new investors. This round brings the company’s total funding to USD 100 million.

<ul><li>This round was launched in October last year to raise USD 40 million; it appears to have been oversubscribed and hence upsized to USD 66 million.</ul>

• The funds will be used to accelerate product and business development, scale global presence by expanding the partner network, expanding offices, and acquiring new talent to support overall growth plans. 

<ul><li> Analyst QuickTake: This funding round comes three years after its Series B round of USD 23 million in December 2018. Demand for robotic picking solutions has gone up amidst the pandemic due to the boom in ecommerce activities as well as requirement for social distancing. Most companies operating in this space have grown during the pandemic. For example, this funding round follows one of RightHand Robotics’ closest peers Automata ’s USD 50 million round just one day ago, and two of its other closest peers XYZ Robotics and Soft Robotics raising USD 35 million and USD 10 million respectively in July and June last year.</ul>