Startup Attabotics Inc., which develops technology that makes logistics warehouses more efficient, has raised $71.7 million in new funding to support growth initiatives.
Attabotics raised the funding through a Series C-1 round announced this morning. Export Development Canada led the round, while the Ontario Teachers’ Pension Plan Board participated as well. Attabotics’ total outside funding now stands at $194.1 million.
The startup’s latest raise comes less than two months after it introduced its first commercial offering. The offering, dubbed the Attabot 2022, is a warehouse automation system that uses robots to process e-commerce purchases.
The first component of the Attabot 2022 is a set of warehouse shelves deployed in a relatively compact storage structure. Attabotics says that the storage structure requires significantly less space than traditional methods of arranging warehouse shelves. According to the startup, its approach enables retailers to reduce floor space requirements by up to 85%.
Each of the shelves in the Attabot 2022 storage structure contains up to 16 bins, which in turn contain a retailer’s merchandise. When a customer purchases an item, robotic shuttles travel to the bin where the requested item is kept and retrieve it. The item can then be prepared for delivery.
The Attabot 2022 is an improved version of an earlier warehouse automation system developed by Attabotics. According to the startup, the Attabot 2022 incorporates 60% fewer components than the earlier system and its robotic shuttles feature an improved motor design. In addition, enhanced algorithms help optimize the route that the robotic shuttles take when retrieving an item from a warehouse shelf.
Attabotics says that its technology can help retailers streamline their logistics networks.
Because the Attabot 2022 is implemented in a storage structure that requires relatively little space, it can be deployed at locations where building a traditional e-commerce warehouse may not be practical. The result, according to Attabotics, is that retailers can deploy Attabot 2022 in urban areas near their customers. The startup says that this logistics approach makes it possible to speed up package delivery times.
Attabotics will use the proceeds from its latest funding round to enhance its technology and speed up commercialization efforts.
“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,” said Attabotics founder and Chief Executive Officer Scott Gravelle.
Attabotics is the latest in a series of warehouse automation startups to have raised funding over recent months. Ambi Robotics Inc., which develops robotic arms that companies such as retailers can use to automate parcel processing, raised $32 million from investors in October. Another market player, GreyOrange, earlier closed a $110 million investment.
Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.