Amazon Industrial Innovation Fund announced this week that it’s invested in Instock Inc, a customer fulfillment robotics company.
The $3.2M round of funding was led by Amazon, with participation from OneWay Ventures, Lux Capital, Commerce VC, u.ventures, Cybernetix Ventures and others.
The new funding will enable the robotics startup to further democratize the automation of storage and retrieval systems (ASRS) using gravity-defying robots. Instock’s robotics-as-a-service (RaaS) model offers a more cost-effective and streamlined way to enhance operations with high-performance automation.
Its modular racking can be built in various shapes, being flexible to the height of a building, with its autonomous mobile robots being able to drive to collect bins and present them to operators picking and packing orders.
Said Semyon Dukach, Founding Partner of One Way Ventures, “The technology that Instock has built can have a material impact on the future of eCommerce fulfillment. We are excited by the unprecedented speed and efficiency Instock can bring to fulfillment operations across the country.”
Added Franziska Bossart, the Head of the Amazon Industrial Innovation Fund, “There is a growing need for highly automated, space-efficient buildings in logistics.”
“Instock’s ASRS capabilities have the potential to improve the number of shipments per day and storage density in space constrained environments – all of which can enable faster delivery to customers and lower costs,” said the investor.
In January of next year the company expects to launch its first production system in North America. Instock was founded in 2020 and offers a gravity-defying e-commerce fulfillment.
The company is led by Yegor Anchyshkin.
This article includes a client of an Espacio portfolio company