Attabotics raises $71.7 million in Series C funding round

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A new round of funding brought in $71.7 million for the business Attabotics, which facilitates the acquisition of parts for 3-D robots.

At the same time that there is a greater effort to make the warehousing and shipping systems of online merchants perform better, there is also a need for additional funding.

Sparrow is a brand-new robotic arm that was unveiled by Amazon this month. It makes use of artificial intelligence and machine learning to repeatedly pick up objects. Over the course of the previous few years, Amazon has acquired a number of different robotics startups.

The automated pickup and delivery system used by Attabotics is able to fit inside a single vertical structure thanks to the assistance of robotic shuttles.

Attabotics, a 3-D robotics supply chain firm, has successfully raised a new round of funding totaling $71.7 million to assist in the automation of warehouses.

The company has now successfully raised a total of $165 million after the completion of this Series C round of funding.

The funding was overseen by Export Development Canada and includes an investment from the Ontario Teachers’ Pension Plan Board. The supporters include both traditional investment firms such as Forerunner Ventures and major technology companies such as Coatue and Honeywell.

The increase is part of a long-term goal to improve the automation of warehouse operations and shipment fulfilment in response to the rising market for e-commerce.

Sparrow, Amazon’s brand-new robotic arm, became available for purchase this month. It is able to pick up millions of objects of varying shapes and sizes because of its computer vision and artificial intelligence technology, which it uses to move commodities before they are wrapped.

Amazon has been rapidly developing its fleet of warehouse robots through Amazon Robotics, the business’s in-house incubator for robotic fulfilment systems, since the company purchased Kiva Systems for $775 million in 2012. The acquisition took place in 2012.

In June, Amazon received its first robot that was capable of performing any and all tasks on its own. It collaborated with other systems that are able to organise and relocate stuff. Additionally, in September, it acquired the robotics and machinery company known as Cloostermans.

Amazon estimates that robots are responsible for the handling of approximately 75 percent of the 5 billion goods it delivers each year at some point during the delivery process.

The automated order fulfilment system that Attabotics uses is housed entirely within a single, vertical building. Products are selected by robotic shuttles, which then transport them outside to personnel stationed at various locations throughout the building. In September, the business released the first version of its own robot that was intended for commercial use. Pan Pacific Pet and Modern Beauty Supplies, both of which have their headquarters in the United States, have joined the company’s roster of collaborators since that time. U.S. Department of Defense

To ensure timely delivery, fulfilment centres should be located in close proximity to key cities. A primary consideration is the size of the Attabotics system, which reduces the amount of warehouse space required by 85% and reduces the amount of labour required by traditional fulfilment centres by 20%.

“This new funding, together with the backing of our investors and team, will allow us to scale our technology and double down on our commitment to employing the most advanced fulfilment system available on the market,” said Scott Gravelle, the founder and CEO of Attabotics, in a statement.