With a new $27 million Series C investment, Third Wave Automation’s autonomous forklifts will drive growth in U.S. warehouses . The round, led by Woven Capital, Toyota’s growth fund, will enable the company to expand the use of its TWA Reach fleet and transform logistics with its shared autonomy technology, which combines artificial intelligence and human intervention to optimize efficiency.
Woven Capital, along with Innovation Endeavors, Norwest Venture Partners and Qualcomm Ventures, is backing Third Wave Automation’s vision as labor and efficiency challenges push the industry toward advanced robotics solutions.
Third Wave’s innovative approach, combining autonomy and human expertise, improves both safety and work efficiency in cargo handling.
“This is a very exciting time for us,” said Prashant Bothra, director of Woven Capital and a new member of the company’s board of directors.
Are autonomous forklifts the solution for your warehouse?
Third Wave has designed its TWA Reach forklifts with a unique ability to operate in four modes: from fully autonomous operation to traditional manual operation, to assisted remote control. This flexibility allows the trucks to dynamically adapt to different warehouse environments and demands , performing tasks from product input to output and optimizing overall productivity.
The shared autonomy platform also allows forklifts to communicate with remote operators in real time , facilitating rapid incident resolution and increasing safety through advanced perception systems such as cameras and collision shields. The Armada FMS management platform integrates these functionalities, giving a single operator the ability to manage multiple forklifts without the need for costly infrastructure changes.
Toyota and Third Wave: Strategic alliance for logistics efficiency
The partnership with Toyota, through Woven Capital, positions Third Wave Automation in a strategic position to accelerate the adoption of its technologies in the logistics sector . Arshan Poursohi, CEO of Third Wave, highlights the impact of the collaboration, noting that it will enable more warehouse operators to access AI-powered solutions , helping them address labor challenges and improve the ROI of their operations.
Brien Downie, President of Holman Logistics, highlights the transformative value of Third Wave forklifts in optimizing logistics processes, noting that “in addition to allowing us to fulfill orders more efficiently, they support our commitment to the safety of our team.”
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Source and photo: Third Wave Automation
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