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The Robot Report
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Vecna Robotics raises funding, names industry veteran Karl Iagnemma CEO
- Vecna Robotics has announced the addition of Karl Iagnemma as CEO and $14.5m in funding from existing investors.
- The Massachusetts-based firm plans to use the funds to fuel technological and product development.
- Iagnemma, a former CEO of fully autonomous vehicle developer nuTonomy, and later Motional, cited a significant opportunity in logistics automation.
- Vecna provides mobile robots for materials handling, and has introduced CaseFlow, its new robotics-as-a-service system.
- It uses human-robot optimisation for effective case picking, promising return on investment in under a year and over a 100% boost in productivity.
- The company's primary focus is on strategic partnerships and product enhancement, developing an AI system that caters to every workflow through ecosystem development.
- Iagnemma offers extensive robotics expertise and plans to consolidate Vecna's leading position by achieving growth through strategic partnerships, scale, and development.
- Vecna offers forklifts, pallet jacks, tuggers, and trucks, as well as Pivotal software products, a round-the-clock Command Center to automate critical tasks and maximise throughput and scalability.
- There is a mass scope for material handling automation, and according to Iagnemma, the market has witnessed low penetration levels with Vecna's technology head and shoulders above the rest.
- Vecna believes economic growth will result from its CaseFlow vision for the near future, leading the charge in the automation of materials handling under industry expert Karl Iagnemma's leadership.
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