Radical Ventures and Index Ventures led a $75m Series C round in Covariant.

Radical Ventures and Index Ventures, two investors, led a $75m Series C round in Covariant, an AI Robotics company, with participation from Canada Pension Plan Investment Board, Amplify Partners, AIX Ventures, and Northgate Capital. “The leading companies have turned to AI Robotics to automate their most manual operations in order to decrease labor costs, increase throughput, and control profitability. The past year for Covariant has been incredible with 6x growth in 2022 – and we are just getting started. This infusion of new capital allows us to scale even faster, ensuring more retailers can automate more parts of their fulfillment networks to remove manual bottlenecks, handle fluctuating demand, and better prepare for ever-changing business needs," Peter Chen, Covariant Chief Executive Officer.