By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: 1MRobotics emerges from stealth with $25M for ‘nano-fulfillment’ centers
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > General > 1MRobotics emerges from stealth with $25M for ‘nano-fulfillment’ centers
General

1MRobotics emerges from stealth with $25M for ‘nano-fulfillment’ centers

admin Published September 19, 2022
Last updated: 2022/09/19 at 8:38 PM
Share
SHARE

[ad_1]

As evidenced by recent layoffs and scaled-back expansions, on-demand delivery is a challenging space. Brands, retailers and operators push to deliver with maximum efficiency, a strategy that’s led within the past several years to the rise of “dark stores.” A dark store, also known as a micro-fulfillment center, is a small, local store without the customers, where employees pack orders from shelves and racks for online delivery orders.

On-demand delivery startups like Getir and Gopuff operate hundreds of dark stores within the cities they service — one analysis projects that there will be 45,000 dark stores in operation by 2030. But while the storefronts decrease delivery times, sky-high rents and staffing requirements make them expensive to maintain — eating away at revenues.

Eyal Yair proposes an alternative in the form of robotic “nano-fulfillment” centers. He’s the co-founder and CEO of 1MRobotics, which takes an automation-first approach to deploying dark stores for rapid delivery. The company today launched out of stealth with $16.5 million in Series A funding led by Ibex Investors with participation from Emerge VC, Target Global and INT3, as well as collaborations with brands including Nespresso, AB InBev and REEF Technology.

The Series A brings 1MRobotics’ total raised to $25 million, inclusive of a previously undisclosed $8.5 million seed round.

“The pandemic has completely propelled ecommerce sales, purchase habits and consumer behavior to the next level — this new norm demands a new type of infrastructure to support rapid delivery operations at a global scale,” Yair told TechCrunch in an email interview. Prior to co-launching 1MRobotics with Roee Tuval, Yair spearheaded and sold two ventures — CartCrunch and Netonomy — focused on grocery e-commerce and cybersecurity, respectively.

“Manual dark stores simply don’t cut it anymore and [1MRobotics] serves as a clear catalyst to the adoption of fulfillment technology,” he continued with bombast. “1MRobotics does something magical: enabling a hyperlocal, fully-automated fulfillment network that’s a magnitude better in service level, significantly better for ESG and costs less than legacy regional next-day fulfillment solutions. This is the holy grail of product distribution.”

Yair claims that 1MRobotics’ platform — a small warehouse of robots that pack orders — can be installed nearly anywhere and doesn’t need to be maintenanced regularly, ideally abstracting away some of the logistics of deliveries. Leveraging AI, the system learns supply and demand patterns appearing in the order flow of the goods stored in the warehouse, Yair says, and “optimizes” the stock in response.

The model isn’t dissimilar to Fabric’s, which has raised more than $300 million at an over-$1 billion valuation for its micro-fulfillment robotics technology. Other rivals include Attabotics, Nimble Robotics and better-established players like AutoStore (which went public last October), U.K.-based grocery fulfillment tech firm Ocado Group and Noyes Technologies.

It’s a cutthroat industry. In July, Fabric laid off 40% of its workforce as it pivoted from a service provider to a platform. Implicit in the shift was a recognition that on-demand delivery is coming down from its pandemic highs; a recent survey out of the Rensselaer Polytechnic Institute found that more than 90% of people who used online delivery services during the pandemic would likely revert back to their original way of shopping.

Yair is adamant that 1MRobotics is differentiated and poised to grow, with “state-of-the-art” robotics technology that’s supposedly “significantly” more efficient than most. The jury’s out, but the company’s early traction suggests that there just might be something to those claims.

One point in 1MRobotics’ favor is that investors — and customers — are still relatively bullish about transportation and logistics tech companies. Logistics startups in particular attracted big VC money in 2021, raising over $27.5 billion. Meanwhile, big-name brands have doubled down on fulfillment automation, for example with Walmart announcing that it would bring robotics to 25 of its regional distribution centers.

“The next decade will be marked with consumers continuing to demand convenience, expecting retailers and brands to supply their favorite products faster and faster. However — nearly all existing last-mile facilities are manual today, with many operating quite inefficiently,” Gal Gitter, a partner at Ibex Investors, said via email. “This is where 1MRobotics comes in — providing ‘plug-and-play’ full automation for last mile fulfillment across nearly any category, while reducing cost and associated environmental impact. We believe the future of commerce is headed towards a network of fully automated and distributed nano-fulfillment sites – that is exactly what 1MRobotics enables.”

[ad_2]

You Might Also Like

Revyze is building the TikTok of educational videos

YouTube ends the test asking users to get a premium subscription to watch 4K videos

Who is going to buy Cadillac’s $300,000 hand-built EV?

Don’t let today’s software rally improve your mood

Daily Crunch: Kanye West reaches agreement to acquire social media platform Parler

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 19, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Line goes down
Next Article Keeping financial tabs on Instacart as it preps its IPO

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

Revyze is building the TikTok of educational videos

6 Min Read

YouTube ends the test asking users to get a premium subscription to watch 4K videos

2 Min Read

Who is going to buy Cadillac’s $300,000 hand-built EV?

4 Min Read

Don’t let today’s software rally improve your mood

1 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?