Fabric raises $200M at a $1B+ valuation for robotics-based fulfillment tech to help e-commerce players compete with Amazon –
Summary
“At the same time, we are seeing bigger opportunities beyond the proposition beyond our micro-fulfilment centers, how they interact in the network and the supply chain.” Singapore’s Temasek — which participated in Fabric’s $110 million Series B in 2019 — led this Series C, with Koch Disruptive Technologies, Union Tech Ventures, Harel Insurance & Finance, Pontifax Global Food and Agriculture Technology Fund (Pontifax AgTech), Canada Pension Plan Investment Board (CPP Investments), KSH Capital, Princeville Capital, Wharton Equity Ventures and other unnamed backers also participating. One of the less transparent of those processes is fulfillment, which can include receiving goods, inventory storage, pick-and-pack costs, kitting and other sorting services (bringing unrelated items together), customer support and more. It has built a vertically integrated set of hardware and software that can be implemented in a customer’s own warehouses, or in its own, to automate the process of selecting, moving around and packing items. One big opportunity in delivery and fulfillment operations has been in better serving dense, urban communities, which represent demographics with disposable income, a regular need for shopping since domestic storage is more limited, and smaller geographic areas to cover more efficiently. “By leveraging existing real estate with a small footprint in close proximity to end consumers, utilizing more sustainable packing materials, and minimizing shrink and waste through smart inventory management, Fabric’s micro-fulfillment centers could lower last-mile emissions significantly.”
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