Mytra, a company revolutionizing industrial productivity with three-dimensional robotics, has launched with $78 million in Series B financing and partnerships, including Albertsons Companies. Founded by ex-Tesla and Rivian robotics leaders, Mytra aims to automate the common industrial task of moving and storing materials.
Recent advances in robotics have allowed Mytra to create a system that dramatically simplifies warehouse operations. Mytra’s technology reduces hardware complexity and automates complex pallet and case handling, eliminating the need for forklifts and conveyors. The system consists of three components: bots, a simple matrix structure, and edge-intelligent software, enabling full 3D movement and optimizing operations through continuous learning.
Mytra’s founding team includes leaders from Tesla, Rivian, Stitch Fix, Walmart, and Slack. The company, backed by investors like Greenoaks and Eclipse, plans to grow its team and scale its technology to meet increasing demand. Already deployed in select Albertsons distribution centers, Mytra’s system is projected to save up to 88% of labor hours and double the internal rate of return compared to current technologies.
Words from those involved in the funding round:
“Material flow makes up the lion’s share of the work in a warehouse but is still largely done the same way it was a century ago. This is because the alternatives are too complex, have too many parts, and are customized for specific applications. We’re taking a radically different approach by reducing the number of parts and moving the focus from hardware to software.”
— Chris Walti, co-founder & CEO at Mytra
“Warehouses are the backbone of the global economy. Yet the vast majority of the world’s warehouses remain manual, and even those that are automated remain too complex and too rigid to meet the challenges of modern supply chains. By creating a software-defined automation system, Mytra breaks the trade-off between automation and flexibility, abstracting away the complexity of hardware, increasing density, dramatically boosting throughput and delivering a resilient system that can adapt as quickly as the needs of customers change.”
— Neil Shah, Partner at Greenoaks.
“Several factors have contributed to an inflection point in the robotics industry that will result in a boom in productivity in the physical world. The stage is set for the stacked Mytra team: a massive market in desperate need of transformation and the opportunity to realize the benefits of converging tech trends that are making it possible to build automated robotics solutions.”
— Seth Winterroth, partner at Eclipse
“Mytra’s automation system offers unique flexibility to address many different applications using the same hardware. Mytra’s highly simplified approach has the potential to unlock new levels of efficiency, with the confidence that the system can adapt to future needs.”
— Mustafa Harcar, vice president of Albertsons Cos
