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Attabotics’ automated storage and retrieval system can scale back warehouse area by 85%. | Source: Attabotics
Attabotics introduced that it introduced in $71.7 million in Series C-1 funding. The newest spherical brings its whole funding to $165.1 million since its founding in 2015.
The Canadian automated storage and retrieval system (ASRS) developer plans to make use of the Series C funding to additional speed up the commercialization of its robotic warehousing resolution. Attabotics‘ resolution condenses typical warehouses right into a single, vertical storage construction.
Inside the system, Attabots, or robotic shuttles, transfer in 3D area to select items and current them to staff at workstations on the surface perimeter. This system can scale back a retailer’s required warehouse area by as much as 85% and allow supply instances as quick as one hour.
“Our vision from day one has been revolutionizing the current supply chain system by offering retailers a fast, sustainable and ultramodern model to fulfill customer needs,” Scott Gravelle, founder and CEO of Attabotics, mentioned. “Creating the software and hardware needed to solve the global supply chain problem is a massive undertaking but this new funding, along with the support from our investors and team, will allow us to scale our technology and double down on our commitment to implementing the most advanced fulfillment technology on the market.”
Export Development Canada (EDC) led the funding spherical, which additionally included participation from the Ontario Teachers’ Pension Plan Board (Ontario Teachers’) via Teachers’ Venture Growth (TVG).
“It has been a privilege building a strategic relationship with Attabotics. They are a forward-thinking company developing innovative technologies to address global supply chain challenges for modern commerce while reducing trade’s environmental footprint,” Guillermo Freire, Senior Vice President Mid-Market Group at EDC, mentioned. “EDC is here to accelerate the international growth of mid-market companies like Attabotics. As a strategic partner, we can not only support with our financial solutions, but can also help fast-forward their growth by leveraging our international networks to support advancements into new markets and to develop new customer relationships around the world.”