Attabotics raises $71.7 million for automated fulfillment system
Canadian startup says its shuttle-served dense storage system allows companies to build DCs closer to customers.
The Canadian logistics robotics startup Attabotics has raised $71.7 million in venture backing for its inventory storage and retrieval system and says it will use the funds to accelerate the commercialization of its “three dimensional” robotics warehousing solution in the wake of growing post-covid demand.
Calgary, Alberta-based Attabotics makes an automated fulfillment system that stores goods in a dense, vertical cube that is served by robotic shuttles known as Attabots. The shuttles pick goods throughout the interior of the cube, then deliver them to workers standing at stations on its perimeter.
The seven-year-old company says its approach lets users reduce their warehouse space requirements by 85%, allowing them to locate fulfillment centers closer to cities for faster delivery times to e-commerce customers.
That strategy is generally comparable to shuttle-served automated storage and retrieval (AS/RS) systems from companies like Exotec, Symbotic, Alert Innovation, AutoStore, and Knapp.
The firm’s “series C-1” round was led by Export Development Canada (EDC) with participation from 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 $165.1 million to date.
We're accelerating our 3D robotics warehousing solution by closing our Series C-1 funding round. Thank you, @ExportDevCanada and the @OTPPinfo through Teachers’ Venture Growth (TVG)! https://t.co/1HKzwl33IH
— Attabotics Inc. (@Attabotics) November 15, 2022