Attabotics raises $25 million in funding
Robotic storage and retrieval solutions firm to expand hiring, manufacturing capabilities, R&D, company says.
Robotic storage and retrieval system startup Attabotics has raised $25 million to fund hiring and expand its manufacturing and research and development capabilities, the firm said this week.
Investors in the Series B funding round include Coatue, Comcast Ventures, and Honeywell, as well as earlier investors Forerunner Ventures and Werklund Growth Fund. The Calgary, Alberta-based firm has raised $32.7 million in funding to date.
Attabotics' goods-to-person system is designed to help retailers speed the shipping and delivery process and also helps meet growing demand for mini-fulfillment centers that can be located in more densely populated, urban areas. The system condenses the rows and aisles found in a typical fulfillment center or warehouse into a single, vertical storage structure. Inside the structure, a fleet of robotic shuttles move in three dimensional space to store and deliver goods to workers at the perimeter that pick, pack, and ship orders. Company leaders say the system can reduce a retailer's warehouse needs by 85 percent while accelerating the fulfillment process and allowing the creation of mini-fulfillment centers.
Company founder Scott Gravelle said the technology was inspired by the structure and productivity of ant colonies.
"We applied the three-dimensional structure of ant colonies into a fulfillment system, built for modern commerce, that is flexible, scalable, and accelerates the shipping and delivery process," Gravelle said in a statement announcing the funding. "Commerce is at a crossroads, and in order for retailers and brands of all types and sizes to thrive, they need to adapt and take advantage of new technologies to effectively meet consumers' growing demands."
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