September 19, 2019

Takeoff Technologies raises $25 million in series C funding

Funding to spur domestic and international growth of firm's microfulfillment solution.

By DC Velocity Staff

Boston-based Takeoff Technologies has raised $25 million in series C funding to continue rolling out its microfulfillment solutions for retail operations across North America, Europe, and Australia, the company said this week. The funding round was led by Forrestal Capital for a 5% stake in the firm, bringing total funding to $86 million, Takeoff also said.

Takeoff Technologies provides microfulfillment solutions for retailers and is focused on the grocery market. The firm has several microfulfillment centers in place, and has partnerships with European grocery retailer Ahold Delhaize, U.S. grocers Albertsons, Wakefern, and Sedano's,  and Australian grocery giant Woolworths. 

The company also said it will launch version 2.0 of its microfulfillment solution next year. The enhanced system will feature: 

  • A smaller design that takes up less floor space, allowing for easier construction and installation.
  • 6% faster order picking.
  • Increased storage capacity.
  • The addition of autonomous mobile robots known as "open shuttles."

"Version 2.0 takes all of the innovative features from our original design and optimizes them," Takeoff Technologies' co-founder and CEO José Vicente Aguerrevere said in a statement. "We are constantly working to provide the maximum capabilities and service to our retail clients."

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