Source: Stack Capital.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Stack Capital Group (STCK) has acquired US$8 million of preferred shares of Locus Robotics Inc.
  • Stack Capital’s investment was part of the recently-announced $117 million Series F funding, which brought its valuation close to $2 billion
  • Locus’ suite of robots is designed to work collaboratively alongside human labour
  • Stack Capital is an investment-holding company, and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses
  • Stack Capital Group Inc. opened trading at C$6.05 per share

Stack Capital Group (STCK) has acquired US$8 million of preferred shares of Locus Robotics Inc.

Stack Capital’s investment was part of the recently-announced $117 million Series F funding, which brought its valuation close to $2 billion.

Locus’ suite of robots is designed to work collaboratively alongside human labour. It transforms large-scale warehouse fulfillment and distribution facilities with industry-leading, intelligent, and dynamically scalable solutions that reduce costs, improve productivity, and enhance overall efficiency.

Its RaaS pricing model dramatically reduces the upfront costs typically associated with outfitting a warehouse facility, saving its clients a significant capital expenditure.

Combined with monthly operating savings in the form of a 2X-3X increase in productivity, and a large reduction in the cost per pick, the return on investment for customers is fast – making Locus a clear and compelling value add.

“Locus has built an impressive platform of robotic solutions during the past several years, and we’re extremely excited to invest in the business,” stated Jeff Parks, Chief Executive Officer of Stack Capital.

“As an innovative leader in flexible and intelligent robotics automation, Locus is uniquely positioned to help modern warehouse facilities deal with operating challenges such as labour shortages, compressed margins, reliability, along with the overall need to become more efficient,” he added.

Stack Capital is an investment-holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses.

Through Stack Capital, shareholders can gain exposure to the diversified private investment portfolio, participate in the private market, and have liquidity due to the listing of the Stack Capital common shares and warrants on the Toronto Stock Exchange.

Stack Capital Group Inc. opened trading at C$6.05 per share.


More From The Market Herald
The Market Herald Video

" Fineqia: Building the digital asset ecosystem

Welcome to the Market Herald, I’m Sabrina Cuthbert, and you’re watching the Top Line.

" One of the biggest players in B.C.’s Montney Fairway is ready to drill

For the past 80 years, the northeastern part of British Columbia has been home to a healthy petroleum exploration and development industry.

" @ the Bell: Growth-sensitive stocks fluctuate on mega jobs report

Canada’s main stock index ended on the higher side of flat on Friday trading as strength in the energy and technology sectors was weighed against

" Aimia (TSX:AIM) sells $7.36M in shares to Mithaq Capital

Aimia (AIM) has sold approximately $7.36 million of its common shares to investor company Mithaq Capital SPC.