Photoneo has raised $21 million in new funding.
The new Capital was raised from AI Capital, IPM Group, Earlybird, Venture to Future Fund, and Credo Ventures as well as all investors who participated in earlier investment rounds.
The newly raised capital will accelerate 3D Sensor business and enable expansion of its fully automated fulfillment solutions for warehouses and dark stores. The new soluton is called BrightPick.
E-commerce, q-commerce, and e-grocery are all experiencing immense pressure which are fueled by rising customer demands and dynamic customer behavior. These changes have been dramatic over the past two years.
Furthermore, a shrinking labor force and ever-increasing labor costs translate to sector demand for automated fulfillment solutions. These solutions will help e-commerce companies keep their customer commitments and keep up in the hyper-competitive landscape.
Photoneo also announced its new business unit named BrightPick. BrightPick is a fully-automated fulfillment solution for warehouses and grocers to support huge throughput via smart AMRs and AI powered robotic picking. Its modular structure can be tailored for a range of usage from Nano to Central Fulfilment Centers.
Photoneo’s futuristic vision as well as BrightPick’s successful pilot integrations have attracted a large number of investors who decided to support the company’s bold strategy through one of the largest investments into an automation startup in Europe, achieving a total of $21 million.
The investment round was led by IPM Group, a global asset manager focusing on technology companies, together with Venture to Future Fund, Earlybird, Credo Ventures, and investors who participated in earlier rounds as well.
Photoneo equips robots with a precise sense of sight and sharp intelligence to enable them to perceive the world in nuanced detail and perform the widest range of tasks.