The firm raised US$110 million in Series B funding, led by Corner Ventures and with participation from the Canada Pension Plan Investment Board (CPPIB) and several others. Fabric will use the funds to expand its network of robot-powered micro-fulfillment centres in the U.S. (The Logic)
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The firm raised US$110 million in Series B funding, led by Corner Ventures and with participation from the Canada Pension Plan Investment Board (CPPIB) and several others. Fabric will use the funds to expand its network of robot-powered micro-fulfillment centres in the U.S. (The Logic)
Talking point: This is CPPIB’s latest tech investment. The pension giant, which has historically focused on more traditional sectors for institutional investors like financial services and telecommunications, has been increasing its foothold in the space. Last December, my colleague Zane reported the board plans to invest between $500 million and $1 billion in venture capital funds. Mark Evans, a former partner at the European arm of top Silicon Valley VC firm Benchmark Capital, joined CPPIB’s board in May. It also put $166 million into Visma, a software company, in April, and participated in funding rounds for WeWork rival Industrious and the buyout of cloud HR platform Ultimate Software.
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