Thomas Unise
Mytra Inc. has secured $120 million in Series C funding to advance its automated storage and retrieval system (ASRS) designed to revolutionize material handling in warehouses and industrial facilities.
The Material Handling Challenge
Despite material handling representing nearly 50% of manufacturing labor according to the U.S. Census Bureau, the industry has seen minimal innovation in the past century. This stagnation has contributed to over 400,000 unfilled industrial positions today, with projections indicating this number could reach 2 million by 2030. Additionally, approximately 60% of warehouse space is considered “dead space” – aisles and clearance areas that add cost without value.
Most notably, about 80% of industrial facilities operate without automation due to prohibitive costs, complexity, and limited flexibility of traditional systems once installed.
Mytra’s Innovative Solution
Founded in 2022, Mytra has developed a comprehensive system that includes mobile robots capable of climbing its ASRS infrastructure to store pallets weighing up to 3,000 pounds (1,360 kg). The company’s approach goes beyond conventional warehouse robotics by rebuilding the fundamental infrastructure layer that industrial processes depend on.
CEO Chris Walti explained the vision: “We’re not building better warehouse robots; we’re rebuilding the infrastructure layer that every industrial process depends on. Material flow should work like cloud computing: abstracted, programmable, and continuously optimizing.”
The system abstracts material flow into software-defined primitives – move, store, pick, route – standardizing operations and making every cubic foot of space addressable. Early deployments have demonstrated impressive results, including 32% reductions in material handling labor and 34% improvements in storage density.
Business Growth and Expansion
Mytra has achieved significant business milestones, signing contracts with major organizations including a Fortune 100 food company and a Fortune 500 industrial-supply distribution company. In 2025 alone, the company signed a large-scale deployment 60 times larger than its previous installations, shipped two pilot systems, launched production at a new customer site, and expanded into a facility seven times larger than its previous space.
The company has also strengthened its leadership team with key executive appointments and added Zach Kirkhorn, former Tesla CFO, to its board.
Funding and Future Plans
The $120 million Series C round was led by Avenir Growth, bringing Mytra’s total funding to over $200 million. New investors include Kivu Ventures, Liquid 2, D.E. Shaw, and Offline Ventures, alongside existing investors Eclipse, Greenoaks, Abstract Ventures, and Promus Ventures. Strategic investors include Lineage and RyderVentures.
Mytra plans to use the funding to accelerate deployment scaling to meet customer demand and to acquire strategic talent as the company continues its growth trajectory.
Why It Matters
Mytra’s approach to warehouse automation addresses critical industry challenges: labor shortages, space utilization inefficiencies, and the historical barriers to automation adoption. By creating a more flexible, programmable system for material handling, the company is positioning itself at the forefront of warehouse infrastructure modernization at a time when supply chain efficiency has become increasingly crucial.
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