Raymond and Third Wave Automation Expand Physical AI Across Lift Truck Fleets

Third Wave Automation and The Raymond Corporation, part of Toyota Material Handling North America, have announced a technology collaboration to expand physical AI capabilities across select automated Raymond lift trucks. The partnership draws on several years of joint development and operational learning that began in 2021, supported by early investments from Toyota Ventures and followed by Woven Capital, Toyota's growth fund.

Under the agreement, Raymond will offer Third Wave's automation technology as part of its integrated ecosystem, providing customers with a scalable path to intelligent warehouse automation that improves throughput, flexibility and safety. The automated trucks will be distributed through Raymond's Solutions and Support Centers and targeted for commercial availability.

Arshan Poursohi, Chief Executive Officer of Third Wave Automation, stated:

"The partnership with Raymond is a major step forward in expanding physical-AI automation on Raymond automated lift trucks. 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."

Third Wave's shared autonomy platform pairs autonomous lift trucks with fleet management software and seamless remote assistance, enabling a single remote operator to supervise up to ten forklifts simultaneously and intervene within seconds when needed—without disrupting other vehicles in operation.

Michael Field, Chief Operations Officer of Toyota Material Handling North America, stated:

"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."

The initial product lineup will include an automated Raymond Swing-Reach truck alongside additional solutions to be announced. The integration will support key warehouse workflows including dock-to-dock transportation and trailer loading and unloading operations, with a focus on rapid time-to-value and measurable outcomes. Raymond and Third Wave will also deliver fleet visibility and operational insights to help customers measure performance and drive continuous improvement across their warehouse operations.