Morrison Foerster advised Third Wave Automation, a provider of autonomous high-reach forklifts powered by Shared Autonomy, on a $27 million Series C round led by Woven Capital, Toyota's growth fund. Return investors Innovation Endeavors, Norwest Venture Partners and Qualcomm Ventures joined the round, bringing total capital raised to $97 million.
The funding will enable Third Wave to scale its pioneering Shared Autonomy Platform, expand manufacturing of its multimode TWA Reach forklifts, and support future technology development that advances the use of autonomous forklifts in and around warehouse environments.
The MoFo team was led by Palo Alto corporate partner Jim Ryan with associates Katherine Suzuki and Thomas Hopkins. Valuable assistance on CFIUS matters was provided by Washington, D.C. partner James Brower and associate Patrick Byxbee.
Read the press release.