What Third Wave Automation does

Third Wave Automation is a privately held, Union City, California-based robotics company founded in 2018 that builds a Shared Autonomy Platform for autonomous material handling in warehouses and distribution centers. The platform pairs a fleet of autonomous forklifts — anchored by the TWA Reach high-reach truck — with the ArmadaFMS fleet management software, 360° 3D LiDAR perception, computer-vision-based payload classification, and remote exception handling that lets a single operator supervise up to ten forklifts simultaneously. A continuous-learning loop records remote operator interventions and feeds them back into model training, enabling the system to improve over the course of live production deployments. The platform is designed to comply with ANSI/ITSDF B56.5 and ISO 3691-4 safety standards for driverless industrial trucks.

The company sells primarily to enterprise third-party logistics providers and warehouse/distribution operators serving e-commerce, food, and pharmaceutical supply chains, with secondary use in manufacturing materials handling. Commercial delivery is through a Robotics-as-a-Service (RaaS) subscription with fixed monthly fees that include hardware, software, deployment, and 24/7 support — removing the upfront capital outlay typical of warehouse automation and targeting sub-12-month customer payback with documented 30%+ cost reductions. A flagship technology partnership with The Raymond Corporation, part of Toyota Material Handling North America, integrates Third Wave's autonomy stack into Raymond's automated lift trucks and distributes them through Raymond's North American Solutions and Support Centers; the first product from this collaboration is an automated Raymond Swing-Reach truck announced in June 2026.

Third Wave has raised approximately $97 million across four funding rounds, most recently a $27 million Series C in October 2024 led by Woven Capital (Toyota's growth fund), with prior backing from Innovation Endeavors, Norwest, Qualcomm Ventures, Zebra Technologies, Eclipse, and Toyota Ventures. Headcount is in the 51-100 range, and the company is actively hiring engineers to scale deployments. Co-founders Arshan Poursohi (CEO), James Davidson (CTO), and Julian (Mac) Mason lead the organization alongside a CTO/CFO/product executive bench.

Name

Third Wave Automation

Legal name

Third Wave Automation Inc.

Website

https://thirdwave.ai

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Third Wave Automation builds a Shared Autonomy Platform combining autonomous forklifts with the ArmadaFMS fleet management software for enterprise warehouses, 3PLs, and manufacturers, delivered via a RaaS subscription and distributed through a flagship Raymond Corporation partnership.

Ownership category

akta.pro rank

Product category

Autonomous Forklifts and Warehouse Automation

NAICS

Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing (333924), Material Handling Equipment Manufacturing (33392)

SIC

Industrial Trucks, Tractors, Trailors & Stackers (3537), Construction, Mining & Materials Handling Machinery & Equip (3530)

akta.pro primary industry

Forklifts & Industrial Trucks (IC & Electric) (IMAHABAA)

akta.pro secondary industries

Material Handling & Industrial Lift Vehicle Manufacturing (Forklifts/Telehandlers/Reach Stackers) (IMACAFAD), Vehicle-Mounted Computers & Forklift Terminals (HDACALAD)

Keywords

• Autonomous forklifts
• Warehouse automation
• Material handling robotics
• Fleet management software
• Robotics-as-a-Service

Headquarters

HQ city

Union City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Robotics-as-a-Service (RaaS) Subscription: Fixed monthly subscription fee model providing autonomous forklift automation, fleet management software, 24/7 customer support, and continuous improvement. No large capital outlay required from customers. Subscription includes all hardware, software, deployment, and ongoing support.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Third Wave Automation designs and deploys autonomous forklifts (including the TWA Reach) integrated with its proprietary Shared Autonomy Platform and ArmadaFMS fleet management software. The company delivers this technology to enterprise warehouse operators and third-party logistics providers via a Robotics-as-a-Service (RaaS) subscription that bundles hardware, software, deployment, and 24/7 support into a fixed monthly fee. Through its partnership with The Raymond Corporation, the same technology is being embedded into Raymond automated lift trucks distributed across North America.

Product overview

Third Wave Automation offers a unified Shared Autonomy Platform that combines autonomous forklifts with the ArmadaFMS fleet management software. The core product is the TWA Reach autonomous forklift, which operates alongside human oversight through the platform's remote assistance capabilities. Additional modules include Collision Shield for redundant collision avoidance and the Payload Safety Evaluation Process for safe load handling. The company delivers its technology through a Robotics-as-a-Service (RaaS) subscription model. Through a partnership with Raymond Corporation, the platform is also being integrated into the automated Raymond Swing-Reach truck for distribution through Raymond's network.

Differentiator

Problem solved

Functional benefit

Brands

• ArmadaFMS: Fleet Management System software platform that lets operators manage forklift fleets, execute and monitor workflows, respond to requests from the system, and configure warehouse zones dynamically.
• Shared Autonomy Platform

Products and services

• Shared Autonomy Platform A flexible, software-defined autonomous warehouse platform that adapts to workflows across forklift fleets and pairs a fleet of autonomous forklifts with an intelligent Fleet Management System (ArmadaFMS) software platform offering remote operation and assistance capabilities. It is offered to enterprise warehouse operators and third-party logistics providers to deliver general, robust, precise, and correct automated movement of material and inventory that continuously improves through machine learning and human oversight.
• ArmadaFMS (Armada Fleet Management System) The software platform that lets operators manage forklift fleets, execute and monitor workflows, respond to requests from the system, and configure warehouse zones dynamically. It includes streamlined workflows, remote exception handling, and remote operation capabilities delivered through an intuitive user interface prioritized by operational impact. It is sold as part of the Shared Autonomy Platform / RaaS offering to enterprise warehouse and 3PL customers.
• TWA Reach (Autonomous Forklift) Autonomous high-reach forklifts designed for warehouse operations, featuring AI-powered navigation, 3D LiDAR perception, and integration with the Shared Autonomy Platform. The system enables fully automated, remote operation, or manual modes with a 1:10 operator-to-forklift ratio, and is delivered to enterprise customers via the Robotics-as-a-Service subscription model.
• Robotics-as-a-Service (RaaS) A subscription-based service offering fixed monthly fees that bundle autonomous forklift hardware, ArmadaFMS software, deployment, and 24/7 customer support under a single provider. It provides flexible terms that scale with customer operations, eliminates large capital outlays, and targets payback under 12 months with 30%+ cost reductions for enterprise customers.
• Automated Raymond Swing-Reach Truck An automated Raymond Swing-Reach truck integrated with Third Wave Automation's AI-enabled shared autonomy technology, launched as the initial product in the partnership with The Raymond Corporation. It is distributed through Raymond's Solutions and Support Centers across North America and targets commercial warehouse and distribution center customers of Raymond.

Quantifiable outcome

• 1:10 operator-to-forklift ratio enabling 10x productivity gains
• +6 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature8 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• The Raymond CorporationflagshipStrategic or Co-development Partner · 16 June 2026Technology partnership to integrate Third Wave's AI-enabled automation capabilities across Raymond's automated lift trucks. Collaboration builds on joint development since 2021. Initial lineup includes automated Raymond Swing-Reach truck with additional products targeted for commercial availability. Products distributed through Raymond's Solutions and Support Centers network.
• Toyota Material Handling North AmericacoreStrategic or Co-development PartnerParent company of The Raymond Corporation. Strategic relationship enabled through investments from Toyota Ventures and Woven Capital, leading to the Raymond technology partnership.
• Material Handling Equipment OEMscoreOEM/ Whitelabel/ Licensing PartnerPartnerships with world's leading material handling manufacturers to deploy shared autonomy on trusted, proven platforms. Works with OEMs to bring physical AI-powered autonomy to their equipment.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• 6 River Systems (Shopify): 6 River Systems provides collaborative warehouse robots and fulfillment solutions, now part of Shopify. Comparable as a vendor of autonomous warehouse robots deployed in 3PL and enterprise distribution centers with similar subscription-based commercial models.
• Symbotic: Symbotic builds end-to-end warehouse automation systems using autonomous mobile robots for pallet movement and storage, serving large retailers and grocers. Directly competes in the autonomous material handling category for warehouse and distribution center customers.
• Balyo: Balyo converts standard forklifts into autonomous vehicles through its robotic fork truck technology, partnered with major OEMs like Linde and Hyster-Yale. Direct competitor in autonomous forklift conversion technology for warehouse operations.
• Geek+: Geek+ is a global provider of autonomous mobile robots for warehousing and logistics, offering picking, moving, and sorting robots. Directly competes in the autonomous warehouse robotics space with comparable customers and RaaS-style models.
• Locus Robotics: Locus Robotics is a leading provider of autonomous mobile robots (AMRs) for warehouse order fulfillment, deploying in 3PL and enterprise warehouses globally. Directly comparable as a warehouse automation robotics vendor targeting similar customers with a robotics-as-a-service model.
• AutoStore: AutoStore provides cube-based automated storage and retrieval systems (ASRS) for warehouses, distributed through partners including Körber and Dematic. Adjacent competitor addressing warehouse automation for storage density and throughput in similar customer segments.
• Fetch Robotics (Zebra Technologies): Fetch Robotics, acquired by Zebra Technologies, provides autonomous mobile robots for material handling and warehouse fulfillment. Comparable as a vendor of autonomous warehouse robots with similar customer profiles in 3PL and manufacturing.
• Seegrid: Seegrid specializes in autonomous forklifts and vision-guided tow tractors for material handling in manufacturing, warehousing, and logistics. Most direct product overlap with Third Wave's autonomous forklift focus.
• Vecna Robotics: Vecna Robotics provides autonomous material handling solutions including forklifts, tuggers, and conveyors for warehousing and manufacturing. Comparable as an autonomous forklift and material handling platform targeting similar enterprise customers.

Broad incumbents

• Dematic (KION Group): Dematic is a long-established global supplier of integrated automated material handling solutions for warehouses and distribution centers. Comparable as a broader incumbent offering warehouse automation including autonomous capabilities, with much larger scale and breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@thirdwaveautomation
• Facebookfacebook.com/thirdwaveautomation
• LinkedInlinkedin.com/company/third-wave-automation
• Xx.com/thirdwaveai

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Third Wave Automation