Mytra Raises $120M Series C to Scale Operating System for Supply Chain

Four-year-old industrial robotics startup reaches over $200M in total funding as it scales software-defined automation platform across customer sites

BRISBANE, Calif., Jan. 15, 2026 /PRNewswire/ -- Mytra, the company building the operating system for supply chains, today announced its closure of a $120M Series C round led by Avenir Growth. New investors Kivu Ventures, Liquid 2, D. E. Shaw, and Offline Ventures joined the round, alongside existing investors Eclipse, Greenoaks, Abstract Ventures, and Promus Ventures. The company's strategic investors include Lineage and RyderVentures, the corporate venture capital arm of Ryder System, Inc.

Founded in 2022, Mytra hit an inflection point in 2025: Signing contracts with some of the world's largest organizations. Mytra now counts a Fortune 100 food company and a Fortune 500 industrial-supply distribution company as customers. In 2025 alone, Mytra signed a large-scale deployment 60x the size of its largest prior installation, shipped two pilot systems, went live in production at its new customer site and moved into a new facility 7x its previous space. The company also grew its team by 78%, including adding Gabi Gantus as CFO, Ingrid Cotoros as Chief Development Officer and Nigel Marcussen as VP of Scaling. The company also added former Tesla CFO Zach Kirkhorn to its board.

Material handling and movement represent nearly 50% of manufacturing labor, yet look fundamentally the same as they did a century ago. The result: more than 400,000 open industrial roles today, heading toward 2 million by 2030, with turnover rates of 50-200%. Meanwhile, roughly 60% of warehouse footprint is dead space — aisles and clearance that add cost but no value.

"I saw firsthand that material flow needs a fundamental platform shift, not incremental improvements," said Chris Walti, CEO & Co-Founder of Mytra. "We're not building better warehouse robots — we're rebuilding the infrastructure layer that every industrial process depends on. Material flow should work like cloud computing: abstracted, programmable, and continuously optimizing."

Approximately 80% of industrial facilities have zero automation because of cost, complexity, and limited flexibility once installed. Mytra abstracts material flow into software-defined primitives — move, store, pick, route — that standardize operations and make every cubic foot of space addressable. Mytra's early deployments have demonstrated 32% reductions in material handling labor and 34% improvements in storage density.

"Most warehouses and industrial facilities can't access the benefits of automation because legacy systems are too costly and inflexible," said Jamie Reynolds, Co-Founder at Avenir Growth. "We believe Mytra represents a fundamental reimagining: a universal system for material flow that breaks free from legacy constraints. Chris and the team have moved with remarkable velocity - executing with intensity, deploying to customers, and implementing feedback pragmatically. We're thrilled to lead their Series C."

The Series C funding will accelerate deployment scaling to meet customer demand and fuel strategic talent acquisition. Mytra has over 20 open roles and is currently hiring for senior roles, including Director Electrical Engineering, Senior Technical Program Manager, and Safety Systems Engineering Architect.

To learn more about Mytra, visit https://mytra.ai/

About Mytra
Mytra, Inc. builds software-defined industrial robotics solutions designed to automate the most common industrial task in logistics – moving and storing material. Mytra solves critical bottlenecks for all warehouse-dependent organizations, from Fortune 100 suppliers to local grocers, so they can increase supply chain resiliency and throughput and drive new innovations forward. Headquartered in Brisbane, CA, the company is backed by investors like Avenir, Greenoaks, Eclipse, D. E. Shaw, Garry Tan, and Lachy Groom.

SOURCE Mytra