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Attabotics announced that it brought in $71.7 million in Series C-1 funding. The latest round brings its total funding to $165.1 million since its founding in 2015.
The Canadian automated storage and retrieval system (ASRS) developer plans to use the Series C funding to further accelerate the commercialization of its robotic warehousing solution. Attabotics‘ solution condenses typical warehouses into a single, vertical storage structure.
Inside the system, Attabots, or robotic shuttles, move in 3D space to pick goods and present them to workers at workstations on the outside perimeter. This system can reduce a retailer’s required warehouse space by up to 85% and enable delivery times as short 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, said. “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 round, which also included participation from the Ontario Teachers’ Pension Plan Board (Ontario Teachers’) through 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, said. “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.”
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