B2B Payments

Attabotics Secures $25M For Supply Chain Robotics

Supply chain technology company Attabotics has announced $25 million in funding, according to a press release issued Tuesday (July 30).

Based in Canada, Attabotics revealed the Series B investment round was left from both financial and strategic investors including Coatue, Comcast Ventures and Honeywell. Forerunner Ventures and Werklund Growth fund also returned to back the company.

Attabotics operates as a 3D robotics supply chain solution provider, offering logistics professionals a way to consolidate the rows and columns of their fulfillment warehouses into a single, vertical storage structure. The company deploys robot shuttles that move in that structure in three dimensions to store and deliver items to packers and shippers.

According to the company, its technology was inspired by the structures of ant colonies and can save businesses up to 85 percent in warehousing needs while accelerating shipping.

“We applied the three-dimensional structure of ant colonies into a fulfillment system, built for modern commerce, that is flexible, scalable and accelerate the shipping and delivery process,” said Attabotics founder, CEO and CTO Scott Gravelle 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 to take advantage of new technologies to effectively meet consumers’ growing demands.”

Attabotics said it plans to deploy its latest funding to further growth, add to its team, scale its manufacturing operations and invest in technology development. To date, the startup has raised $32.7 million.

“Supply chain efficiency, particularly relative to improving fulfillment speed and capabilities, is a critical (costly) strategic issue for brands and retailers to address as they struggle to meet the pressures of today’s competitive consumer environment while staying profitable,” added Forerunner Ventures General Partner Eurie Kim in another statement. “Attabotics provides retailers of all sizes with an innovative back-end system that not only enables them to meet their 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.”

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