Takeoff Technologies Announces $25 Million in Series C Funding and Rollout of Enhanced Robotic Solution for Grocery Automation
Takeoff has completed its Series C fundraising and announced Version 2.0 of its Micro Fulfillment Solution for Grocery Automation.
Today, Takeoff Technologies confirmed the closing of its Series C fundraising with an additional $25 million in investment for 5 percent of the company, with a valuation of $500 million, bringing the total funds raised to $86 million. The infusion of capital is strategically positioned to drive the expansion of their innovative grocery automation solution across North America, Europe, and Australia.
Takeoff is at the forefront of micro fulfillment as the first and only automation solution provider with several operating sites in partnership with major grocery retail chains. Takeoff has several operational micro fulfillment centers (MFCs) in place, with many to follow in the coming months. Takeoff has proudly announced partnerships in the US with Albertsons, Ahold Delhaize, Wakefern, Sedano’s, and in Australia with Woolworths, with additional domestic and international partners to be disclosed in the near future.
As part of its continued progress, Takeoff also announced Version 2.0 of their micro fulfillment solution for grocery automation, to be rolled out in 2020. Version 2.0 will feature a smaller and cleaner design of the MFC’s floorspace, allowing for easier construction and installation. Version 2.0 will allow for 6 percent faster order picking, while increasing storage capacity. These robots utilize smart technology to avoid humans and other obstacles while transporting totes filled with groceries, further advancing the concept of grocery automation.
“Version 2.0 takes all of the innovative features from our original design and optimizes them,” says co-founder and CEO José Vicente Aguerrevere. “We are constantly working to provide the maximum capabilities and service to our retail clients.”
Co-founder and president Max Pedró, adds, “Both the Series C funding and the MFC Version 2.0 mark Takeoff Technologies as a continually growing force in the industry. The vision of accessible and fast online groceries is no longer a dream. We are making it happen.”
Takeoff Technologies is a Boston-based tech startup at the forefront of grocery automation, providing hyperlocal micro fulfillment solutions to assist grocery retailers in transitioning their operations online. These micro fulfillment centers, or MFCs, employ a vertical storage approach, utilizing robots to efficiently retrieve groceries and assemble orders within minutes. Takeoff empowers retailers to thrive in the eCommerce landscape through automation at a hyperlocal level. Orders are placed online through established retailers and Takeoff’s automated technology fulfills the order using robots in micro fulfillment.
The company was co-founded by Jose V. Aguerrevere and Max Pedro in 2016, and recently closed its Series C financing led by Forrestal Capital, taking the total capital raised to US$86M. The company’s robotics technology is proven and ready to deploy at scale thanks to Takeoff’s exclusivity partnership with Knapp, a leading global provider of automated warehouse solutions. By leveraging automated micro fulfillment centers, Takeoff’s innovative model operates at a much lower cost-to-serve than other eCommerce platforms, solving for both the cost of assembling the order and cost of the last mile. For more information, visit http://takeoff.com.