Mytra, a robotics startup founded by former Tesla engineers, has launched with $78 million in funding to advance warehouse logistics through automation.
The Series A funding round was led by Greenoaks, with contributions from Eclipse, 515 Ventures, and Y Combinator CEO Garry Tan. Mytra plans to use the funds to expand its team and enhance its technology to meet rising demand from major corporations.
“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,” said Chris Walti, Mytra’s co-founder and CEO. “This is because the alternatives are too complex, have too many parts and are customized for specific applications.” Walti added, “We’re taking a radically different approach by reducing the number of parts and moving the focus from hardware to software. We are the first and only solution that can universally automate many of the most labor-intensive, costly and complex aspects of material flow, which are the ‘red blood cells’ of any industrial operation.”
Founded in 2022 and based in San Francisco, Mytra aims to revolutionize material handling in logistics through its software-powered robots. The company’s technology automates tasks such as moving and storing goods, traditionally managed with forklifts and pallet jacks.
Mytra’s robots operate on vertical shelves and can move up to 3,000 pounds horizontally and vertically. They work together, managed by a software platform that optimizes routes and monitors performance. This approach, according to Mytra, saves up to 88% of labor hours and provides double the internal rate of return compared to existing technologies.
The company’s solutions are already attracting commercial interest, including a partnership with grocery chain Albertsons. Mustafa Harcar, Albertsons’ vice president of supply chain automation, noted, “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.”
The funding will support Mytra in scaling its operations and expanding its technological capabilities as it seeks to reshape the logistics industry.
