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Berkshire Grey Secures $36M in New Orders

Berkshire Grey Inc.

Benzinga · 11/11/2021 07:06
Berkshire Grey Inc. (NASDAQ:BGRY), the leader in AI-enabled robotic solutions that automate supply chain processes, today announced that it recently secured new orders of $36 million representing $25 million in repeat orders from a blue-chip anchor customer and $11 million from new customers (see separate release highlighting one of these new customers here). These orders increase the Company's total orders to-date to $184 million and increase backlog to its highest level yet to $113 million. The $25 million order represents yet another follow-on order for tens of solutions to be installed in different locations, with many more locations anticipated for future orders. "Follow-on orders with blue-chip anchor customers are important indicators and align today's progress with our long-term growth plans. Our robotic picking and other automated systems are customer proven with demonstrated ROI. That, combined with today's need for automation across the supply chain continue to fuel business," said Tom Wagner, CEO, Berkshire Grey Inc. "We are excited by both our progress this year and that it aligns with our long-term growth trajectory." Berkshire Grey's Intelligent Enterprise Robotics solutions enable enterprises to meet consumer expectations for on-demand delivery through intelligent robotic automation of eCommerce fulfillment, store replenishment and package handling. Combining proprietary AI, software and patented hardware, Berkshire Grey robotic systems include: AI-enabled picking. AI-enabled mobility. System orchestration. Cloud monitoring and analytics. A full portfolio of professional services including manufacturing, installation, commissioning, maintenance, software updates, and operation.