As the global supply chain faces a critical labor shortage, ArcBest and NFI led a $42 million investment into Phantom Auto’s remote operation software for logistics vehicles, and announced orders for thousands of warehouse and cross-docking forklifts powered by Phantom’s software.
Phantom’s human-centered remote operation enables people to remotely operate forklifts, yard trucks, robots, and other vehicles from up to thousands of miles away. With Phantom, supply chain operators can tap into drivers from anywhere, Phantom officials wrote in a press release. Phantom will use the latest funding to rapidly increase headcount and develop new technologies.
“With the elimination of having to physically be on site, we can attract more diverse candidates that do not live within driving distance of the warehouse, live in alternative time zones, or who may not have been interested in working in a warehouse environment,” said Sid Brown, CEO of NFI.
ArcBest led Phantom Auto’s Series B funding round with a $25 million investment. Michael Newcity, chief innovation officer of ArcBest and president at ArcBest Technologies, also will join Phantom’s board.
As part of their partnership, Phantom and ArcBest will go-to-market with multiple integrated solutions, beginning with human-operated, remote-enabled autonomous counterbalance forklifts.
“We have seen an explosion in demand for remote operation across the supply chain as our customers seek innovative solutions to expand access to labor and fuel growth,” said Shai Magzimof, co-founder and CEO at Phantom Auto.