Section 01

Executive Summary

Northwind Robotics is a warehouse robotics-as-a-service platform reporting $32m ARR and 68% year-on-year growth. Meridian proposes an $18m Series C investment as part of a $45m round at $210m pre-money.

At a glance

ARR (run-rate)

$32m

+68% YoY

Gross margin

61%

+3pts YoY

Net dollar retention

118%

Fleet utilisation

84%

Key findingHigh impact

Category leadership with a proven land-and-expand motion

Northwind operates roughly 3x the deployed robotics fleet of the nearest independent competitor, and the average customer expands seat count 2.4x within 18 months of first deployment.

RecommendationDo nowEffort: MOwner: Deal team + Managing Partner

Approve the $18m Series C investment, conditional on governance terms

Approve at $210m pre-money, conditional on a board observer seat, standard pro-rata rights, and a documented CTO succession plan within 90 days of close.