Walmart and Fox Robotics Enter into Multi-Year Commercial Agreement, Walmart Invests Growth Capital April 15, 2024
AUSTIN, TEXAS – April 15, 2024 – Fox Robotics, the autonomous forklift company, has announced that it has entered into a multi-year program agreement with Walmart after a 16-month proof of concept. The program begins with rolling out 19 additional FoxBot autonomous forklifts across four high-tech Walmart distribution centers, with the potential for more, pending continued performance.
“Our new autonomous forklift program with Fox Robotics is proof positive that when you empower associates, embrace innovation, and welcome new opportunities, you’ll see growth for the business and its people,” said Vice President of Innovation and Automation, Shayne Wahlmeier.
As part of the partnership, Walmart also invested growth capital in Fox Robotics, obtaining a minority interest in the Company.
“As the leader in autonomous trailer loading and unloading, Fox Robotics is pleased to deepen its relationship with Walmart as a key customer and investor,” said Marin Tchakarov, President and CEO of Fox Robotics. “We see this collaboration as the latest massive validation point of our technology and product capabilities, solidifying our leadership position in the warehouse shipping and receiving dock automation space.”
The FoxBot forklift is the world’s first autonomous forklift designed to fully automate the warehouse loading dock. Since the company started selling its FoxBots in 2021, its installed base has autonomously processed more than 3 million pallet pulls for customers across North America.
“Fox Robotics has unlocked the final step of the fully end-to-end automated warehouse of the future with its FoxBot autonomous loader/unloader capabilities. The logistics space is the single biggest market for automation for the next 5-10 years, and the shipping and receiving dock—the gateway to the warehouse—will see a disproportionate share of that growth due to its virtually entirely unautomated present state,” said Till Reuter, board member of Fox Robotics and former CEO of Kuka Robotics. At the core of the FoxBot is a proprietary AI and machine learning system that serves as the robot’s brain, allowing it to make decisions dynamically and autonomously on everything from detecting pallet locations, stabilizing picked loads, and loading and unloading pallets with more care to avoid product damages commonly caused by manual forklifts.
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About Fox Robotics:
Founded in 2017, Fox Robotics is leading the industry in autonomous pallet workflows to improve workplace safety and productivity in warehouses across the U.S. and Canada. The company develops, manufactures, and sells the world’s first autonomous trailer loader/unloader, the FoxBot. Fox Robotics is backed by some of the world’s most admired investors and companies, including BMW i Ventures, Walmart, Menlo Ventures and Zebra Technologies. To learn more, visit FoxRobotics.com or follow Fox Robotics on LinkedIn.
Media Contact:
Carla Vallone
Portavoce PR for Fox Robotics
760-479-5732
Carla.vallone@portavocepr.com
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