Photoneo, the smart automation firm, has raised an investment of $21 million in Series B funding. The newly raised capital will help accelerate its 3D Sensor business and enable the expansion of its fully automated fulfilment solutions for warehouses and dark stores.
Branching out into the logistics sector, Photoneo also announced its new Business Unit – BRIGHTPICK. The new product is a fully-automated fulfilment solution for warehouses and grocers to support 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.
“We identified a gap in the order fulfilment sector. We combined our unique technologies to develop a first-of-its-kind end-to-end solution for fully automated fulfilment centres”, says Jan Zizka, co-founder and CEO of Photoneo. “The potential of this next-gen warehouse automation technology is immense as it is highly flexible and scalable, maximizing throughput with minimum effort. It helps optimize processes, save space, and increase efficiency by 3 to 5 times compared to manual labour”.
The $21 million 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’s work and achievements are truly impressive. We believe in the company’s power to enhance logistics and transform the automation of e-commerce processes with its groundbreaking and much-needed solutions”, says Marian Bocek, Managing Partner at IPM Group. “Photoneo is already a well-established leader of smart automation solutions powered by original machine vision technology and artificial intelligence and supporting the company at this stage means helping them embrace the future of automation completely and on all fronts”.
You can find more information about Photoneo and its $21 million in Series B funding round on its website.