Vecna Robotics has closed its Series C funding round at USD100 million, with USD40 million in new funding.

The automation specialist says the funding nearly doubles the company’s valuation from the previous round.

Tiger Global Management, Proficio Capital Partners, and IMPULSE participated in the round.

“Finalising this capital raise, with the help of our existing investors and a new financing partner is huge validation that we are on the right track,” says Vecna Robotics chief executive officer Craig Malloy.

“With fresh capital secured, we have the balance sheet to help us drive growth with our existing customers through improved product performance and the release of new automation technology that will change the game for material handling in warehousing and distribution.”

Vecna Robotics says over the past year, it has combined cloud software updates and investments in its Pivotal Command Centre to help customers such as GEODIS, FedEx, Caterpillar and Shape realise more than 70% performance improvements in ground-to-ground warehouse workflows.

“GEODIS has been working with Vecna Robotics on the development of a new, groundbreaking case picking solution that nearly doubles performance,” says Andy Johnston, senior director of innovation at GEODIS.

“We are counting on this recent cash infusion at the company to speed up development and launch of a complete market-ready offering that can be deployed right away.”