Third Wave Automation
Union City, California maker of high-reach autonomous forklifts that switch between autonomous, remote-assisted, remote-operated and manual modes.
Third Wave Automation was founded in 2018 and is headquartered in Union City, California. It builds autonomous forklifts for warehouses, led by the TWA Reach, a high-reach truck that can run fully autonomously, with remote assistance, under remote operation or with a driver on board. The company calls its approach shared autonomy: people help the machines through hard cases, and the fleet learns from that help over time. On 4 August 2021 it announced a $40 million Series B led by Norwest Venture Partners, with Innovation Endeavors, Eclipse Ventures and Toyota Ventures taking part, and said it had raised $59 million in venture capital in total. On 15 February 2023 it announced a strategic investment from Qualcomm Ventures and Zebra Technologies, without giving the amount, and said its total funding had reached $70 million. On 30 October 2024 it announced a $27 million Series C led by Woven Capital, Toyota's growth fund, with Innovation Endeavors, Norwest Venture Partners and Qualcomm Ventures joining, which took its total capital raised to $97 million. The company said the Series C would pay for scaling its shared autonomy platform, building more TWA Reach forklifts and developing new technology, and it named the third-party logistics firm Holman Logistics as a customer.
- Latest funding
- $27M
- Total funding
- $67M
- Latest valuation
- —
- Founded
- 2018
- Country
- United States
- Oct 30, 2024Series C$27M
- Feb 15, 2023Strategic—
- Aug 4, 2021Series B$40M