AAA Attabotics retrieves $25m in series B round

Attabotics retrieves $25m in series B round

Canada-based warehouse robotics technology provider Attabotics received $25m on Tuesday in a series B round that included mass media conglomerate Comcast and appliance producer Honeywell.

Hedge fund manager Coatue Management, venture capital firm Forerunner Ventures and investment firm Werklund Ventures’ Growth Fund also took part in the round. Comcast participated through its corporate venturing arm, Comcast Ventures.

Attabotics has developed technology that replaces the traditional rows and aisles in warehouses with a single vertically-structured storage space, potentially reducing a retailer’s space requirements and warehouse needs by up to 85%.

The company’s robotic shuttles can then automatically retrieve goods, handing them over to a human worker for them to be packed and shipped. Proceeds from the round will fund hiring, technology development and the bolstering of the company’s manufacturing operations.

Attabotics has now raised $32.7m altogether, it said, identifying Forerunner Ventures and Werklund Growth Fund as existing backers without disclosing details of their investments.

Murray Grainger, managing director of Honeywell Ventures, said: “E-commerce is driving continued growth opportunities for advanced automation and robotics in the warehouse sector.

“Honeywell continues to make strategic investments in this space and we are excited to partner with Attabotics, who are developing innovative technologies to improve order fulfilment and enhance supply chain operations.”

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