Mytra, a California company that builds an automated storage and retrieval system for pallets, closed a $120m Series C, announced on 15 January 2026. Avenir Growth led the round, according to Pulse 2.0 and Automated Warehouse. Total funding now exceeds $200m. No valuation was disclosed.
New investors were Kivu Ventures, Liquid 2, D. E. Shaw and Offline Ventures. Existing backers Eclipse, Greenoaks, Abstract Ventures and Promus Ventures returned. Strategic investors Lineage and RyderVentures, the corporate venture arm of Ryder System, are also on the list.
“Material flow should work like cloud computing: abstracted, programmable, and continuously optimizing.”Chris Walti, CEO and Co-Founder, Mytra
What Mytra builds
Mytra was founded in 2022 and is based in Brisbane, California. Chris Walti is co-founder and chief executive. Its system uses mobile robots, called Mytrabots, that climb a grid of passive infrastructure and store pallets weighing up to 1,360kg (3,000lb), according to Automated Warehouse.
AI inventory software coordinates pallet storage and queuing for trailer loading or depalletising, and the system supports cross-docking by staging and storing full pallets. Early deployments reported a 32% reduction in material-handling labour and a 34% improvement in storage density, per the company.
DC Velocity reported that Mytra abstracts material flow into software-defined primitives: move, store, pick and route. The company says these standardise operations and make every cubic foot of space addressable. The Japanese outlet The Bridge reported that Walti previously led work on Tesla's Optimus robot and left Tesla in 2022 to start a company building robots that are not humanoid.
Customers and growth
The announcement named no customers, describing them as a Fortune 100 food company and a Fortune 500 industrial-supply distributor. In 2025 Mytra said it signed a deployment 60 times larger than its previous largest, shipped two pilot systems, went live at a new production site and moved into a facility seven times the size of its previous one.
Its team grew 78% in 2025, but no total headcount was given. Automated Warehouse reported that Robotics Business Review named Mytra its 2025 RBR50 Startup of the Year.
Mytra described the problem it targets, according to DC Velocity: material handling and movement is nearly 50% of manufacturing labour, more than 400,000 industrial roles are open, roughly 60% of warehouse footprint is dead space such as aisles and clearance, and about 80% of industrial facilities have no automation. These are the company's figures. The Bridge reported that Albertsons is its first commercial customer, a name the announcement itself did not give.
What the money is for
Mytra said it will use the money to accelerate and scale deployments to meet customer demand and to acquire strategic talent. Pulse 2.0 reported more than 20 open roles.
Walti said: "Material flow should work like cloud computing: abstracted, programmable, and continuously optimizing." He said he saw firsthand that material flow needs a fundamental platform shift, not incremental improvements.
Leadership and board
The company added Gabi Gantus as chief financial officer, Ingrid Cotoros as chief development officer and Nigel Marcussen as vice president of scaling. Zach Kirkhorn, a former chief financial officer of Tesla, joined the board.
Jamie Reynolds, co-founder of Avenir Growth, said most warehouses and industrial facilities cannot access the benefits of automation. The sources do not itemise Mytra's earlier rounds.