Mytra, the company supercharging industrial productivity with first-of-its-kind three-dimensional robotics, has officially secured a sum worth $78 million in total financing through the Series B stage and several commercial partners, including Albertsons Companies. According to certain reports, the company will dedicate these newly-raised funds to automate the most common industrial task: moving and storing material. Before we get any further into this development, we must try and acknowledge that, according to an analysis done by Eclipse, more than 85 percent of global GDP is attributed to physical goods. This further indicates how nearly half of all the work in making and delivering those goods to customers involves moving material. Now, despite the fact that moving material is so crucial for a smooth function of global economy, available data would tell you how there has been near to no innovation in this area for last 50 years. The stated lack of innovation is only accentuated by mounting pressures on manufacturing and supply chain, as well as extensive labor shortages across the board. In response to that, Mytra has assembled a team of leaders well-equipped to tackle the problem on-hand and reduce hardware complexity. Beyond leadership personnel, it’s Mytra’s systems that are optimally customizable, shapeable, scalable, as well as loaded with high-density. These systems make it possible for the company to automate complex pallet and case handling without the complexity of forklifts, pallet jacks, conveyors, elevators, and other similar bids to achieve automation. All in all, though, Mytra’s technological prowess can be credited to three key breakthroughs i.e. simplified offering, 3D movement, and industry-leading software.
Beginning from the company’s simplified offering, unlike other solutions that involve thousands of parts only to overwhelm customers with technical debt, Mytra comprises only three individual components: bots, a simple and repeating matrix structure, and edge-intelligent software. Such a setup, like you can guess, greatly simplifies the deployment process, reduces cost, and avoids single points of failure.
“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. This is because the alternatives are too complex, have too many parts, and are customized for specific applications,” said Chris Walti, Co-Founder and CEO at Mytra. “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.”
Next up, we must dig into the company’s s 3D movement breakthrough, which translates to how Mytra is the first system that allows for full 3D movement at up to 3000 pounds from a cell to any adjacent cell in any direction, thus achieving the physics-limited maximum level of flexibility. Moving on to the software, it educates us on Mytra software platform’s ability to optimize bot routes, manage inventory, and continuously learn and improve by adjusting to changing customer needs. This ideology, on its part, entirely abstracts the hardware layer and makes material flow fully software-defined, allowing operators to unlock endless new applications and future-proof their operations.
Markedly enough, across its entire customer base, Mytra claims that its technology saves an estimated 88 percent of labor hours, while simultaneously delivering double the internal rate of return compared with current best-in-class technologies on the market.
“Warehouses are the backbone of the global economy,” said Neil Shah, Partner at Greenoaks. “Yet the vast majority of the world’s warehouses remain manual, and even those that are automated remain too complex and too rigid to meet the challenges of modern supply chains. By creating a software-defined automation system, Mytra breaks the trade-off between automation and flexibility, abstracting away the complexity of hardware, increasing density, and dramatically boosting throughput.”
