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Karl Iagnemma, a pioneer in the autonomous vehicle industry, has returned to the AV and robotics scene after stepping down as president and CEO of Motional. Vecna Robotics, a Massachusetts-based startup specializing in warehouse material handling robots, has named Iagnemma as its CEO.
### Funding and Expansion
Vecna Robotics announced a new funding round of $14.5 million from existing investors. The funds will be used to enhance automation technology and products for automotive, manufacturing, and warehousing sectors. With a total of $179 million raised to date, Vecna continues its growth trajectory.
### Industry Support
Backed by investors like Tiger Global Management and Proficio Capital Partners, Vecna previously raised $50 million in 2020. The recent Series C round secured $65 million, with an additional $40 million in funding. Iagnemma, an early supporter of Vecna, is optimistic about the startup’s commercial potential.
### Future Outlook
Iagnemma sees substantial growth opportunities for Vecna in automation logistics. Comparing it to robotaxis, he emphasizes the market potential and the importance of innovative technology. Despite his departure from Motional, Iagnemma remains positive about the AV industry’s future.
Vecna Robotics continues to innovate in the robotics sector, guided by experienced leadership and strong investor support.
