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- Pickle Robot
Pickle Robot Funding, Investors & Competitors
Pickle Robot has raised $103M across 6 funding rounds, most recently a $50M Series B in November 2024.
Last Pickle Robot funding round
$50M
Series B · Nov 2024
Cumulative funding Pickle Robot raised
$103M
across 6 funding rounds
Key investors in Pickle Robot
Third Kind Venture Capital
Hyperplane
BoxGroup
Toyota Ventures
Version One Ventures
Catapult Ventures
Ranpak
DCVC
About Pickle Robot
Pickle Robot is a Boston-headquartered robotics firm that deploys Dill, its collaborative mobile manipulator for e-commerce fulfillment centers. Dill handles parcel induction from feeder trucks, palletizing and depalletizing operations, and preloading delivery vehicles for last-mile logistics. Designed to operate alongside human workers across multiple shifts, the robot addresses labor shortages in package handling through advanced perception and manipulation capabilities.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Pickle Robot Funding History
Pickle Robot has raised a total of $103M across 6 funding rounds.
Pickle Robot's first fundraising round was a $4M seed round in May 2019. The most recent completed round was a $50M Series B in November 2024.
Pickle Robot funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2024 | Series B | Third Kind Venture Capital; Toyota Ventures; Hyperplane; Catapult Ventures; One Madison Group; Ranpak; Teradyne | $50M | Pickle Robot, a Cambridge, Mass.-based company, develops Physical AI-enabled robotic automation systems specialized in unloading trucks, addressing one of the most labor-intensive tasks in logistics operations. The technology combines powerful vision systems with generative AI foundation models trained on millions of data points from real warehouse operations, enabling robots to perform at human-scale or better. Pickle Robots have already unloaded over 10 million pounds of merchandise from import containers and domestic floor-loaded trailers for customers distributing footwear, apparel, power tools, toys, kitchenware, packaging materials, small appliances, and general merchandise, with plans to expand to parcel-type freight. On November 20, 2024, Pickle Robot closed a $50 million Series B funding round with participation from Teradyne Robotics Ventures (noted as a strategic customer), Toyota Ventures, Ranpak, Third Kind Venture Capital, One Madison Group, Hyperplane, Catapult Ventures, and others. This round brings the company's total funding to approximately $82 million to $154.89 million across multiple rounds. The funds will accelerate development of new feature sets, expand commercial teams, and target new markets and geographies to serve global robotic truck unloading customers. In Q3 2024, six customers placed orders for over 30 production robots scheduled for deployment in the first half of 2025, including pilot conversions, existing customer expansions, and new adoptions, demonstrating commercial traction. CEO AJ Meyer highlighted the value of Physical AI in logistics, while board member Omar Asali of Ranpak praised the team's execution in innovation, field service, and manufacturing. Pickle aims to automate inbound and outbound processes at 1 million warehouse doors over the next decade. |
| May 2024 | Series B | - | $15M | Pickle Robot closed a $50 million Series B funding round on November 20, 2024, with participation from Teradyne Robotics Ventures, Toyota Ventures, Ranpak, Third Kind Venture Capital, One Madison Group, Hyperplane, and Catapult Ventures. The company develops robotic systems for automated truck unloading in logistics operations, focusing on what it describes as Physical AI technology applied to labor-intensive warehouse processes. In Q3 2024, six customers placed orders for over 30 production robots to deploy in the first half of 2025, representing pilot conversions, existing customer expansions, and new customer adoption. Pickle Robot has unloaded over 10 million pounds of merchandise from import containers and domestic trailers across customers in footwear, apparel, power tools, toys, and general merchandise distribution. The company plans to use the funding to accelerate development of new features, expand commercial teams, and unlock new markets and geographies globally, with a stated mission to automate inbound and outbound processes at 1 million warehouse doors over the next decade. |
| Nov 2022 | Series A | Catapult Ventures (lead); Charles and Lynn Schusterman Family Philanthropies (lead); JS Capital (lead); Ranpak (lead); Soros Capital Management (lead); Third Kind Venture Capital; Toyota Ventures; Hyperplane; BoxGroup; Version One Ventures | $26M | Pickle Robot Company develops AI-enabled robotic automation systems designed to unload trucks, trailers, and containers, addressing a labor-intensive and injury-prone task in logistics. Founded by MIT alumni, the company uses off-the-shelf robot arms combined with AI software, computer vision, and sensors to autonomously handle floor-loaded freight, likened to 'teaching robots to pick up boxes and play Tetris.' At the time of the November 2022 funding announcement, Pickle had live pilot implementations with United Exchange Corporation (UEC) at a Southern California distribution center, where systems unloaded tens of thousands of packages per month alongside human staff processing ocean freight containers. On November 15, 2022, Pickle Robot closed a $26 million Series A funding round co-led by Ranpak, JS Capital, Schusterman Family Investments (also referred to as Charles and Lynn Schusterman Family Philanthropies), Catapult Ventures, and Soros Capital Management. Additional participants included prior investors such as Toyota AI Ventures (or Toyota Ventures), Third Kind Venture Capital, Hyperplane Ventures (or Hyperplane), BoxGroup, and Version One Ventures. This brought the company's total funding to nearly $32 million to date. As part of the deal, Ranpak's chairman and CEO Omar Asali joined Pickle Robot's board of directors. The funding aims to accelerate go-to-market activities, expand customer acquisition, strengthen deployment capabilities, and build infrastructure to deliver more systems. The company reported strong customer interest following initial deployments moving out of the lab phase. To support commercialization, Pickle expanded its leadership with Mike Donikian as VP of product and operations and Pete Blair as VP of marketing and sales. This round occurred amid a challenging fundraising environment for robotics startups, but Pickle's pilot traction in warehouse automation—a hot category driven by labor shortages and competition with Amazon—supported the raise. Pickle focuses on truck unloading, an underserved area in fulfillment automation compared to picking and sorting. Early customer UEC distributes private-label consumer goods and food items. |
| Apr 2021 | Seed | Hyperplane (lead); Third Kind Venture Capital; Toyota Ventures; BoxGroup; Version One Ventures | $6M | Pickle Robot raised $5.75 million in a seed round on April 14, 2021, led by Hyperplane with participation from Third Kind Venture Capital, BoxGroup, Version One Ventures, and others. The funding supported development of its AI-enabled robot 'Dill,' designed for package picking at 1,600 picks per hour from truck trailers, targeting trailer unloading with orders opening in June 2021 and shipping in early 2022. Pickle Robot, an MIT spinoff founded in 2018, develops robotic automation for e-commerce supply chain tasks like truck unloading. |
| Nov 2020 | Seed | - | $2M | - |
| May 2019 | Seed | Hyperplane (lead); Third Kind Venture Capital; RRE Ventures; BoxGroup; DCVC; Version One Ventures | $4M | - |
Who has invested in Pickle Robot?
14 investors have backed Pickle Robot across its funding rounds, including Third Kind Venture Capital, Hyperplane, BoxGroup, Toyota Ventures, Version One Ventures and Catapult Ventures.
Lead investors include Catapult Ventures, Charles and Lynn Schusterman Family Philanthropies, JS Capital, Ranpak, Soros Capital Management and 1 other investor.
Pickle Robot Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | May 2019 | ||
| 4 | Lead | May 2019 | ||
| 3 | Participant | Apr 2021 | ||
| 3 | Participant | May 2019 | ||
| 3 | Participant | May 2019 | ||
| 2 | Lead | Nov 2022 | ||
| 2 | Lead | Nov 2022 | ||
| 1 | Lead | Nov 2022 | ||
| 1 | Participant | May 2019 | ||
| 1 | Lead | Nov 2022 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Lead | Nov 2022 | ||
This data is available for Pro users. Sign up to see all 14 Pickle Robot investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialPickle Robot Competitors
Pickle Robot competitors include listed companies like ABB and Johnson Controls, and private ones like LexxPluss, Quicktron Robotics, Exotec and Geek+.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $3.8B | - | ||
| Private | - | - | $2.3B | - | ||
| Private | $100M | - | $2B | 20.0x | ||
| Private | $150M | - | $2B | 13.3x | ||
| Publicly listed | $33B | $6.9B | $175B | 4.9x | ||
| Publicly listed | $24B | $3B | $85B | 3.7x |
Pickle Robot Public Comps
Pickle Robot is still privately-owned, but its public comps include Siemens, Schneider Electric, ABB, Hitachi, Mitsubishi, Delta Electronics (Thailand), Johnson Controls, Emerson Electric, Honeywell and Teradyne.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $91B | $15B | 3.0x | 2.9x | 18.1x | 15.7x | |||
| $46B | $9.5B | 4.3x | 3.9x | 21.0x | 18.4x | |||
| $33B | $6.9B | 5.4x | 4.9x | 25.9x | 22.6x | |||
| $68B | $11B | 2.2x | 2.2x | 13.8x | 13.5x | |||
| $122B | $8.7B | 1.2x | 1.2x | 17.2x | 21.8x | |||
| $5.9B | $1.1B | 15.0x | 11.4x | 80.8x | 64.9x | |||
| $24B | $3B | 4.0x | 3.7x | 31.0x | 20.0x | |||
| $18B | $4.7B | 5.2x | 5.0x | 19.9x | 17.1x | |||
This data is available for Pro users. Sign up to see all Pickle Robot competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Pickle Robot
| When was Pickle Robot founded? | Pickle Robot was founded in 2018. |
| Where is Pickle Robot headquartered? | Pickle Robot is headquartered in United States. |
| Is Pickle Robot publicly listed? | No, Pickle Robot is a private, VC-backed company. |
| How much funding has Pickle Robot raised? | Pickle Robot has raised $103M across 6 funding rounds. |
| What was Pickle Robot's last funding round? | Pickle Robot's last funding round was a $50M Series B in November 2024. |
| Who are Pickle Robot's investors? | Pickle Robot's investors include Third Kind Venture Capital, Hyperplane, Toyota Ventures, BoxGroup, Version One Ventures, Catapult Ventures, Ranpak, Charles and Lynn Schusterman Family Philanthropies, RRE Ventures, Soros Capital Management and 4 others. |
| Which companies are comparable to Pickle Robot? | Companies comparable to Pickle Robot include LexxPluss, Quicktron Robotics, Exotec, Geek+, ABB and Johnson Controls. |
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