Third Wave Automation

The company's core offering is the Shared Autonomy Platform, which integrates artificial intelligence and machine learning to allow autonomous systems and human operators to work together. Its primary products are the TWA Reach and TWA Extended Reach, a line of autonomous high-reach forklifts. A key feature of Third Wave's technology is its operational flexibility, allowing the forklifts to be deployed in four different modes: fully autonomous, remote operation, remote assistance, and traditional manual operation. This multimode capability allows for integration into existing warehouse workflows without requiring significant or costly infrastructure changes.

Overseeing the fleet is the Armada Fleet Management System (FMS), which enables a single remote operator to manage and monitor multiple forklifts simultaneously. The business model includes software licensing for its platform, potentially through a subscription model, and a Robots-as-a-Service (RaaS) option to help clients avoid large capital expenditures. The company aims to enhance warehouse throughput, efficiency, and safety by keeping human operators off the floor and out of potentially hazardous situations. Since its inception, Third Wave Automation has raised a total of $97 million in funding over several rounds, with its latest Series C in October 2024 raising $27 million, led by Woven Capital, Toyota's growth fund. This funding is intended to scale manufacturing and further develop its technology.