Attabotics, a Canada-based developer of supply chain robotics technology, secured $50m yesterday in a series C round led by pension fund manager Ontario Teachers’ Pension Plan Board that included appliance manufacturer Honeywell.
Founded in 2015, Attabotics has created an all-in-one fulfilment system inspired by ant colonies that is intended to replace the traditional warehouse layout with a single, vertical storage structure where robots move around, storing and picking up goods while workers outside process items.
The company claims its approach reduces the footprint of a warehouse by up to 85%, lowering costs and making it possible to place them closer to cities to speed up deliveries.
Attabotics currently operates in six locations across North America and will use the series C funding to accelerate commercial deployment, develop new technologies and scale its manufacturing capabilities. It said it has now raised $82.7m in funding altogether.
Honeywell took part in a $25m series B round for the company in July 2019 that included mass media conglomerate Comcast’s investment arm, Comcast Ventures, as well as Coatue Management, Forerunner Ventures and Werklund Ventures’ Growth Fund.
Forerunner Ventures and Werklund Growth Fund were named as returning investors in the series B round, though Attabotics has not disclosed details of its earlier funding.
Photo courtesy of Attabotics.
