Attabotics Snags $25 Million in Series B Funding

July 31, 2019
Written by Folake Dosu

hardware-robotics-attabotics-funding

3D robotics supply chain startup Attabotics has announced the raise of a $25 million Series B funding this week. Coatue, Comcast Ventures and Honeywell participated in the round, as did existing investors Forerunner Ventures and Werklund Growth Fund.

Attabotics plans to use the funding to fuel growth, including hiring, manufacturing operations and technology development. To-date, the Alberta-based firm has raised $32.7 million in funding to date.

Attabotics draws inspiration from the structure and productivity of ant colonies, enabling its retailer customers to turn the sprawling rows and aisles of typical fulfillment warehouses into a single, vertical storage structure. A fleet of robotic shuttles move in three-dimensional space within this structure to facilitate storage and delivery to people at the perimeter who complete the orders. This space reduction can shrink retailer’s required warehouse needs by 85%, which not only decreases real costs, but also allows companies to build warehouses closer to cities.

“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. 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.”

“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,” said Scott Gravelle, Attabotics founder, CEO & CTO, in a statement. “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.”

“Attabotics provides retailers of all sizes with an innovative back-end system that not only enables them to meet the ever-increasing bar for faster delivery, but also allows them to manage vast inventory assortment and seamless returns, all while allowing the business to focus on its most important job – delighting customers,” added Eurie Kim, general partner at Forerunner Ventures.

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