INSUBCONTINENT EXCLUSIVE:
Fabric, the startup that wants to make automated logistics available to retailers of all sizes, announced today it has raised $110 million
The round was led by Corner Ventures, with participation from Aleph, Canada Pension Plan Investment Board (CPPIB), Innovation Endeavors, La
Maison, Playground Ventures and Temasek.This brings the total funding raised so far by Fabric (formerly called CommonSense Robotics) to
Its last round was a $20 million Series A announced in February 2018
Fabric also said today that it is launching a platform model that will allow its clients to build micro-fulfillment centers on their own
Its Series B will be used for its United States expansion, where it currently has 14 sites under contract, including three
micro-fulfillment centers that are currently being built in New York City
One of those is scheduled to open by the first quarter of next year and will be available to retailers who want to make on-demand
fulfillment, including one-hour deliveries, available to their customers.Last October, Fabric opened its first micro-fulfillment center in
Robots move around the warehouse, picking up inventory so human workers can stay at a scanning station
Fabric says the 6,000-square-foot station now processes up to 600 orders a day, including one-hour deliveries.Steve Hornyak, chief
commercial officer at Fabric, told TechCrunch that it plans to expand its platform model into at least one other United States city next
multiple tenants leveraging the same platform
strategic and financial infrastructure they need to meet consumer expectations profitably, sustainably and at scale in an on-demand
micro-fulfillment market leader with a production-proven platform that drives tremendous value for its retail partners and consumers alike
We are delighted to be partnering with the Fabric team in their incredible vision to reinvent how goods are fulfilled and delivered in this
