Provider of high-reach autonomous forklifts Third Wave Automation (TWA) has announced investment from Zebra Technologies and Qualcomm Ventures, bringing its total funding to US$70 million.
Founded in 2018, TWA is a California-based automation company that’s current product range consists of a reach truck and a fleet management system.
The company’s flagship forklift, the TWA Reach, is unique in its ability to be deployed in four modalities – fully autonomous, remote operation, remote assist, and traditional manual operation. It leverages AI and machine learning to make remote operation and assist options possible.
TWA says that the investment will enable the company to ‘accelerate new innovations as its first product expands its select pilot program’. It plans to use the funding to expand its market offerings to include other classes of forklifts such as narrow aisle and counterbalance trucks. TWA is also interested in exploring integration of its products with automation solutions such as those offered by Zebra subsidiary Fetch Robotics.
Arshan Poursohi, co-founder and Chief Executive of TWA, said: “After successfully deploying our solution with key pilot customers, we are excited to expand the TWA Reach pilot program. This enables us to explore additional automation workflows and continue deploying flexible forklift automation technology.
“With the strategic investment from Qualcomm Ventures and Zebra Technologies, we look forward to scaling production of our forktrucks, deploying them with new customers in a wide variety of sites, continuing to innovate with new applications and additional materials handling vehicles, and perfecting our fleet management.”
Zebra Technologies (stand i820) will be at IntraLogisteX on 28-29 March 2023 at the NEC Birmingham. For more information, visit www.intralogistex.co.uk.