Raymond Corporation Partners With Third Wave on AI Forklift Fleet

Raymond Corporation Partners With Third Wave on AI Forklift Fleet

The Raymond Corporation has formalized a technology partnership with Third Wave Automation to integrate AI-driven shared autonomy capabilities across its automated lift truck lineup, the companies announced. The collaboration, which builds on development work dating to 2021, will make Third Wave's automation platform available through Raymond's distribution network.

The partnership brings together Raymond's material handling equipment with Third Wave's shared autonomy software, which allows a single remote operator to supervise up to ten autonomous forklifts simultaneously. When an automated vehicle encounters an obstacle or unexpected situation, the operator can intervene within seconds without disrupting other vehicles in the fleet.

Why it matters

This partnership represents a significant scaling pathway for AI-powered warehouse automation beyond traditional fixed-route systems. By enabling one operator to manage multiple autonomous vehicles from an off-floor location, the technology addresses persistent labor challenges while maintaining human oversight for complex situations. The integration of Toyota's venture capital backing with Raymond's established distribution infrastructure creates a commercial channel that could accelerate physical AI adoption across North American warehouses.

Technology and Product Lineup

The initial product offering will include an automated version of Raymond's Swing-Reach truck equipped with Third Wave's autonomy platform. Additional automated products are planned for commercial release, though specific models have not been disclosed. All vehicles will be distributed through Raymond's existing Solutions and Support Centers.

Third Wave's platform combines machine learning, computer vision, and robotics with fleet management software. The system is designed to handle dock-to-dock operations and trailer loading and unloading workflows, with emphasis on rapid deployment and measurable performance improvements.

Investment and Development History

The partnership follows years of collaborative development supported by Toyota's investment arms. Toyota Ventures, the automaker's early-stage fund, initially backed Third Wave, followed by additional investment from Woven Capital, Toyota's growth-stage fund. Raymond operates as part of Toyota Material Handling North America.

"Our investment in Third Wave Automation was rooted in a conviction that physical AI would transform industrial operations," said Prashant Bothra, principal at Woven Capital, in a statement.

Arshan Poursohi, CEO of Third Wave Automation, characterized the partnership as "a major step forward in expanding physical-AI automation on Raymond automated lift trucks."

Michael Field, chief operations officer at Toyota Material Handling North America, said the collaboration extends Raymond's strategy of integrating advanced technology across its product ecosystem to help customers optimize workflows and improve operational visibility.

Operational Model

The shared autonomy approach differs from fully autonomous systems by maintaining human oversight while automating routine operations. Remote operators can monitor multiple vehicles simultaneously and provide guidance when automated systems encounter scenarios outside their training parameters. The companies position this model as balancing productivity gains with operational flexibility and safety.

The partnership will also deliver fleet visibility tools and operational analytics to help customers measure automation performance and identify improvement opportunities.

Details of the partnership were first reported by Third Wave Automation in a company announcement.