Insider Brief
- Corvus Robotics raised $20 million in new funding led by Catalyst Investors, with participation from S2G Investments, Spero Ventures, F7 Ventures and new investor Cibus Capital, bringing total funding to $38 million.
- Co-founder and CTO Mohammed Kabir has been named CEO, succeeding co-founder Jackie Wu, who is stepping down for health reasons and will remain on the company’s board.
- Corvus develops physical AI systems for warehouse inventory tracking, including autonomous Corvus One drones and forklift-mounted Corvus Trident, with more than 300 devices deployed across the U.S., Canada and Mexico.
Corvus Robotics has raised $20 million to expand its warehouse robotics business and named co-founder and Chief Technology Officer Mohammed Kabir as CEO.
According to the company, Catalyst Investors led the funding round, with existing investors S2G Investments, Spero Ventures and F7 Ventures participating, while Cibus Capital joined as a new investor. The financing brings the Mountain View, Calif.-based company’s total funding to $38 million.
Kabir succeeds co-founder Jackie Wu, who is stepping down as CEO for health reasons and will remain on Corvus Robotics’ board, the company said. Kabir has overseen the company’s technology and product development since the two founded Corvus in 2017. Sidney Kullar of Catalyst Investors will also join the board.
The company indicated it plans to use the funding to accelerate development and deployment of its physical AI systems for warehouses and distribution centers.
Tracking Warehouse Inventory
Corvus develops autonomous systems that collect inventory and operational data inside warehouses without requiring facilities to install localization infrastructure such as beacons or markers. Its main product, Corvus One, is an autonomous drone that moves through warehouse aisles and captures inventory data. The company said its fleet currently analyzes more than 1 million inventory locations a month.
In February, the company introduced a cold-chain version of Corvus One designed to operate in environments ranging from normal warehouse temperatures to freezers at minus 20 degrees Fahrenheit. In April, the company launched Corvus Trident, an AI-enabled system that mounts on forklifts and reach trucks and records pallet movements during normal warehouse operations.
The systems feed data into AIMS, Corvus’ software platform. Corvus One tracks inventory sitting in storage locations, while Trident is designed to capture inventory as workers and equipment move it through a facility.
Corvus said it has more than 300 devices deployed across 26 U.S. states, Canada and Mexico, with customers including Southern Glazer’s Wine & Spirits, Dermalogica, GNC and MSI Surfaces. The company noted that it designs and manufactures its hardware and develops its AI models in the U.S.
