Another week, and more announcements relative to million of dollars of investment going to start up companies looking to automate or change the game in ecommerce fulfillment.
Supply Chain Digest Says...
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| The funding winner for the week is Nimble Robotics, which makes smart AI-based machines that intelligently pick and pack ecommerce orders. |
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A few weeks ago, SCDigest reported that robotic piece picking vendor Berkshire Grey went public by being acquired by Revolution Acceleration Acquisition, a so-called special-purpose acquisition company that exists only to quickly take companies public. The deal is expected to provide Berkshire Grey up to $413 million in cash, valuing a company at an amazing $2.7 billion, even though expected 2021 revenues ae just $59 million.
There were several other funding announcements in the efulfillment space in the past few weeks.
That's starts with Flowspace Inc., which offers a fulfillment platform for retailers and brand companies to have orders shipped from a network of 3PL partners. Based in the Los Angeles area, Flowspace says it already operates one of the nation's largest networks of warehouses.
'The way to think about us is that our software picks up after someone clicks 'purchase' online," CEO Ben Eachus told Los Angeles Business Journal. "It routes orders to the correct fulfillment center, and we also provide software to warehouses that instructs employees how to pick and pack an order."
Flowspace announced last week that it had raised $31 million more investment in a Series B funding round led by Texas venture capital firm BuildGroup.
Next, a company called Fillogic, which says it offers a "Logistics-as-a-Service" platform, operating micro distribution center hubs at malls for retail fulfillment. Retail customers use the hubs for a range of logistics services, including forward-staging inventory, receiving and fulfilling high-demand products, and expedited shipping.
Based in New York City, Fillogic said in early March that it had raised another $2.5 million in funding to expand network, bringing total funding $3.5 million.
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CATEGORY SPONSOR: SOFTEON |
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 Fillogic said it will use the newest funding round to expand its hub network nation-wide, targeting strategic markets in the Mid-Atlantic, Atlanta, Los Angeles, Miami, Dallas, Phoenix, and San Francisco. It currently operates micro distribution hubs across the Northeast, including Connecticut, New York, New Jersey, and Pennsylvania.
The funding winner for the week is Nimble Robotics, which makes AI-based machines that intelligently pick and pack ecommerce orders.
Two weeks ago, Nimble announced $50 million Series A financing led by DNS Capital, GSR Ventures and other firms.
San Francisco-based Nimble says it robots are deployed in fulfillment centers across the United States, picking over 100,000 items per day for customers including several Fortune 500 retailers.
The company intends to double its workforce in 2021, saying it will hiring top-tier engineering and operational talent.
SCDigest's Take: If you have an efullflment solution, there may just be some money available for you - but certainly many of these investments will not pan out, with a small number of super winners.
What do you think of these big investments going to efulfillment firms? Let us know your thoughts at the Feedback section below.
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