# Berkshire Grey

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/berkshire-grey

- Industry: Software
- Headquarters: Bedford, US
- Website: www.berkshiregrey.com
- Total disclosed funding: $263M
- Latest round: Series B (Jan 21, 2020)
- Investors on record: 4

## About

Founded in 2013 by CEO Tom Wagner and based in Massachusetts, US, Berkshire Grey, Inc. combines artificial intelligence and robotics to help retailers, eCommerce, and logistics enterprises. The company serves the grocers, 3PL providers, and parcel and post carriers. In 2021, Revolution Acceleration Acquisition Corp., a special purpose acquisition company (SPAC), merged with Berkshire Grey, Inc. The combined company is valued at USD 2.7 billion while the transaction paid USD 413 million in cash proceeds along with PIPE proceed of USD 165 million. The company’s customers include Walmart Inc, Target Corp, and FedEx Corp and is backed by Softbank. 

The company adopts technologies such as robotic picking, AI software, Electro mechanicals, and Mobile robotics to offer e-commerce fulfillment to manage inventory and sequence outgoing orders for delivery and order selections; smart store replenishments; and dynamic parcel sortation. The company’s solutions can be configured into existing conveyor infrastructure to provide robotic picking directly from a belt or from totes of inventory to assemble outbound orders. The mobile robotic solutions such as mobile FlexBots, robotic AutoPick stations, ManualPick stations and supporting infrastructure help in order selection operations.

Additionally, Berkshire Grey’s robotic solutions accommodate picking eaches, inner-packs, cases, bags, bottles, cans, blister packs, tubes, and other product packages to create aisle-friendly store orders contained in totes, cardboard boxes, and other store-bound containers. The company’s solutions include core storage and sequencing capabilities via mobile robots and shuttle sortation systems. Such solutions enable retailers to ship orders to stores for consumer pick-up as well as pre-sort parcels. 

Berkshire Grey reported USD 35 million in revenue in 2020. 

Post the merger with Revolution Acceleration Acquisition Corp, Berkshire plans on going public. The company expects to have USD 507 million in cash and plans on utilizing this to fund operations and support new and existing growth initiatives.

## Funding rounds

- Series B, Jan 21, 2020, $263M — New Enterprise Associates, Canaan Partners, Khosla Ventures, SoftBank Group

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series B
- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Series B
- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Series B
- SoftBank Group — Series B