Export Development Canada led the round, marking its first investment in the company, while Ontario Teachers’ Pension Plan also participated. The Calgary-based warehouse robotics startup said it has now raised a total of US$165.1 million. (The Logic)
Talking point: The company said it would use the money to commercialize its patented AI-enabled warehousing technology, which sorts objects within a three-dimensional structure to save floor space and cut labour costs. Attabotics released the latest model of its technology, called “Attabot 2022,” earlier this year. It continues to expand its corporate partners, which now include the U.S. Department of Defense and Körber, a German software and technology firm. Competition in the logistics and supply-chain sector has intensified following the pandemic, and Attabotics has been eyeing expansion opportunities as direct-to-consumer shipping options grow in popularity. Attabotics raised a US$50-million Series C led by Ontario Teachers’ in August 2020, and received a $34-million award from the federal government’s Strategic Innovation Fund later that year.