Canadian logistics robotics startup Attabotics has raised $71.7 million in venture capital for its inventory storage and retrieval system and says it will use the funds to commercialize its “three-dimensional” robotic warehousing solution amid growing post-Covid demand -19 crisis to accelerate.
Attabotics of Calgary, Alberta manufactures an automated fulfillment system that stores goods in a dense, vertical cube served by robotic shuttles known as Attabots. The shuttles pick goods inside the cube and then deliver them to workers standing at stations around its perimeter.
The seven-year-old company says its approach allows users to reduce their storage needs by 85%, allowing them to locate fulfillment centers closer to cities to reduce delivery times for e-commerce customers.
This strategy is generally comparable to shuttle-served automated storage and retrieval (AS/RS) systems from companies such as Exotec, Symbotic, Alert Innovation, AutoStore and Knapp.
The Company’s “Series C-1” round was led by Export Development Canada (EDC) with participation from the Ontario Teachers’ Pension Plan Board (Ontario Teachers’) through Teachers’ Venture Growth (TVG). The move follows a $50 million round in 2020 and brings Attabotics’ total funding to date to $165.1 million.
We are accelerating our 3D robotic warehousing solution by completing our Series C-1 funding round. Many Thanks, @ExportDevCanada and the @OTPPinfo through Teachers’ Venture Growth (TVG)! https://t.co/1HKzwl33IH
— Attabotics Inc. (@Attabotics) November 15, 2022