Corvus Robotics Seeks Funding to Update Autonomous Inventory Management System
=======================================================
The startup has now raised a total of $18 million, utilizing autonomous drones and AI to monitor inventory in distribution centers.
——————————————————————————–
By MMH Staff on October 9, 2024
Corvus Robotics’ drones can take off autonomously without the need for additional infrastructure such as reflectors, stickers, or beacons to navigate within distribution centers.
Corvus Robotics, a provider of autonomous inventory management systems, announced an update to its Corvus One system that first achieved the capability to fly without any infrastructure like reflectors, stickers, or beacons in distribution centers. The latest generation product is backed by $18 million in Series A and seed funding led by S2G Ventures and Spero Ventures.
“Corvus Robotics aligns with our mission of investing in companies that truly transform the way businesses operate,” said Marc Tarpenning, co-founder of Tesla and partner at Spero Ventures. “Apart from landing pads, its drone-driven system requires no infrastructure, is quick to deploy, easy to manage, and cost-effective. It seamlessly integrates into existing warehouse environments.”
“S2G Ventures looks for disruptive innovations that can address the evolving needs of industries, and we believe Corvus perfectly embodies this,” said Arthur Chow at S2G Ventures. “Its technology provides a practical path towards operational excellence by enhancing accuracy and productivity while being easy to implement. We are proud to support a company revolutionizing core operations across various sectors.”
Corvus states that its fully automated Corvus One drone system uses computer vision and generative AI to understand its environment, operating in both very narrow (minimum width of 50 inches) and wide aisles. The company adds that with obstacle detection technology at its core, the lightweight drones can fly safely at walking speed without disrupting workflows or blocking aisles. They can also actively ascend to avoid collisions with personnel, forklifts, or robots if necessary. Its advanced barcode scanning capability reads any barcode symbol placed on the front of boxes or pallets in any orientation. See the system in action.
“Being able to conduct 24/7 inventory checks without human intervention is a game-changing improvement for us,” said Austin Feagins, Senior Solutions Director at Staci Americas, which uses Corvus solutions. “The light operation feature of the Corvus One system allows our inventory team to correct discrepancies outside and before shifts start each day; limiting fulfillment delays and production impacts.”
By redirecting employees to more valuable tasks such as picking and replenishment, Corvus One improves operational efficiency while saving hundreds of thousands in labor costs. Corvus further notes that the system helps maximize space utilization, avoid stockouts, and improve key performance indicators (KPIs) through smarter replenishment and more accurate physical inventory (PI) counts.
“The Corvus One system is a crucial component for end-to-end inventory visibility and optimization,” said Jackie Wu, co-founder and CEO of Corvus Robotics. “We are growing rapidly, and the recent funding will help us meet the increasing demand from our fast-growing customer base while continuing to develop products with globally unique capabilities.”
—
Source: Modern Materials Handling
