Third Wave Automation (Third Wave) has announced a technology collaboration with The Raymond Corporation, a subsidiary of Toyota Material Handling North America (TMHNA), to launch and expand AI-enabled physical automation capabilities across select automated Raymond lift trucks. The partnership aims to help customers improve throughput and operational flexibility through shared autonomy and AI-driven lift truck automation.
Background of the Collaboration
The collaboration builds on several years of joint development and operational learning since 2021, initially supported by investments from Toyota Ventures, Toyota's early-stage venture firm, and later by Woven Capital, Toyota's growth fund. Raymond will integrate Third Wave's automation capabilities into its ecosystem, offering customers a scalable path to enhance warehouse performance through AI-first technology.
Executive Insights
“The partnership with Raymond is a major step forward in expanding physical-AI automation on Raymond automated lift trucks,” said Arshan Poursohi, CEO of Third Wave Automation. “The combination of Third Wave software and Raymond’s best-in-class material handling equipment creates an unmatched automated solution, with substantial gains in throughput, flexibility, and safety.”
Michael Field, chief operations officer at Toyota Material Handling North America, added: “We have been purposefully and thoughtfully integrating advanced technology and AI-driven capabilities across Raymond’s integrated ecosystem of solutions to help customers optimize workflows, improve visibility, and better connect their operations. Adding Third Wave’s technology to our Raymond lineup is a natural extension of that approach, enhancing the solutions available to our customers while supporting more connected, scalable warehouse operations and automating the right application where it makes sense.”
Technology Overview
Third Wave’s shared autonomy platform combines autonomous lift trucks with fleet management and seamless remote assistance. This allows a remote operator to supervise multiple vehicles and intervene in seconds when needed, without affecting other vehicles. In typical operations, one operator can manage up to ten forklifts from an off-floor location, improving both productivity and operational efficiency.
Product Lineup and Availability
The initial lineup will include an automated Raymond Swing-Reach truck and several soon-to-be-announced products, each integrated with Third Wave’s automation technology and targeted for commercial availability. The trucks will be distributed through Raymond’s Solutions and Support Centers.
Strategic Investment Perspective
“Our investment in Third Wave Automation was rooted in a conviction that physical AI would transform industrial operations and the enormous potential we saw in their technology to lead that transformation,” said Prashant Bothra, principal at Woven Capital. “This partnership is a testament to what’s possible when Toyota Group’s global teams, technology, and strategic capital can accomplish when working together. We’re bringing differentiated capabilities to market faster and at greater scale.”
