The raised capital will be used to transform e-commerce order fulfillment in warehouses and dark stores.
Photoneo announces an investment of $21 million from AI Capital, IPM Group, Earlybird, Venture to Future Fund, and Credo Ventures as well as all investors who participated in previous investment rounds.
This huge investment is to launch a momentous transformation of automated order fulfillment for e-commerce, q-commerce, and e-grocery - sectors that are currently faced with serious challenges such as a shrinking labor force, rising customer demands, and increasing labor costs. These factors fuel the industry’s urgent demand for automated fulfillment solutions.
Photoneo responds to this demand with a first-of-its-kind, only end-to-end solution for fully automated fulfillment centers - BRIGHTPICK.
BRIGHTPICK means a historic breakthrough in the automation of order fulfillment for several reasons:
- It is the only complete solution on the market for the full automation of the whole order fulfillment workflow, from the beginning to the end, and without the need to involve a 3rd party
- It is modular so it can be tailored for a range of usage from Nano to Central Fulfillment Centers
- It helps optimize processes, save space, and increase efficiency and throughput by 3 to 5 times compared to manual labor
Simultaneously with entering the logistics sector, Photoneo established a new Business Unit called BRIGHTPICK.
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