O’Melveny Advises Honeywell in Investment in Canadian Robotics Company Attabotics8月 01, 2019
FOR IMMEDIATE RELEASE
SILICON VALLEY—August 1, 2019—O’Melveny represented Honeywell in a US$25 million Series B investment in Attabotics, the world’s first 3D robotics supply chain system for modern ecommerce. Honeywell was joined in the investment by Coature, Comcast Ventures, Forerunner Ventures, and Werklund Growth Fund.
The new funding will go toward supporting Attabotics’ continued, explosive growth, including new hires, scaling manufacturing operations, the development of new technologies, and more.
Based in Calgary, Canada, Attabotics replaces the rows and aisles of traditional fulfillment centers with a patented storage structure and robotics shuttles. Attabotics has fulfillment centers across the United States and Canada.
Honeywell is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally.
The O’Melveny team advising Honeywell was led by Silicon Valley partner Einat Meisel and associate Bhavreet Gill.
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Attabotics issued the following press release:
Attabotics Raises $25 Million Series B to Transform Supply Chains
Coatue, Forerunner Ventures, Honeywell, and others invest in 3D robotics system to help retailers reduce fulfillment costs and meet the ever-escalating demands of modern commerce
July 30, 2019
CALGARY, Alberta--Attabotics, a 3D robotics supply chain company, today announced the raise of a $25 million Series B from financial and strategic investors. Participants in the round include Coatue, Comcast Ventures, and Honeywell alongside returning early investors Forerunner Ventures and Werklund Growth Fund. The new funding will go toward supporting Attabotics’ continued, explosive growth, including new hires, scaling manufacturing operations, the development of new technologies, and more. Attabotics has raised $32.7 million in funding to date.
Attabotics brings scale and efficiency to its customers’ supply chains. Inspired by the structure and productivity of ant colonies, Attabotics condenses the endless rows and aisles of typical fulfillment warehouses into a single, vertical storage structure. Inside the structure, a fleet of robotic shuttles move in three-dimensional space (horizontally andvertically, along the X, Y, and Z axes) to store and deliver goods to people at the perimeter that pick, pack and ship modern commerce orders.
Attabotics’ all-in-one supply chain system can reduce a retailer’s required warehouse needs by 85% (saving money on real estate costs), and accelerate shipping processes to meet consumers’ expectations. This reduction in space requirements also allows retailers to place warehouses closer to cities for faster delivery times and leverage existing back-of-house capacity to create mini-fulfillment structures.
“We applied the three-dimensional structure of ant colonies into a fulfillment system, built for modern commerce, that is flexible, scalable, and accelerates the shipping and delivery process,” said Scott Gravelle, Attabotics founder, CEO & CTO. “Commerce is at a crossroads, and in order for retailers and brands of all types and sizes to thrive, they need to adapt and take advantage of new technologies to effectively meet consumers’ growing demands.”
“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,” said Eurie Kim, general partner at Forerunner Ventures. “Attabotics provides retailers of all sizes with an innovative back-end system that not only enables them to meet the 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.”
“E-commerce is driving continued growth opportunities for advanced automation and robotics in the warehouse sector,” said Murray Grainger, managing director of Honeywell Ventures.
“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 fulfillment and enhance supply chain operations.”
To learn more about Attabotics, and strategies to transform your supply chain for modern commerce, please visit attabotics.com.
Attabotics is the world’s first 3D robotics supply chain system for modern commerce. Inspired by the framework of ant colonies, Attabotics replaces the rows and aisles of traditional fulfillment centers with a patented storage structure and robotics shuttles that utilize both horizontal and vertical space and can reduce a company’s warehouse needs by 85%. By empowering retailers and brands to place fulfillment centers near high-density urban areas, Attabotics helps close the last-mile delivery gap. Attabotics has been adopted by major brands and retailers across apparel, food & beverage, and home goods. Attabotics is based in Calgary, Alberta, Canada, with fulfillment centers across the United States and Canada.
Moxie Communications Group
Shira Berg, 914.815.0975