Warehouse Robotics Startup Fabric Raises $110 Million
Turning underutilized urban retail spaces into delivery centers where robots store, sort, and process inventory, the company aims to tackle the last mile distribution challenge
In an interview with Calcalist, Fabric co-founder and CEO Elram Goren said the round ended up being significantly higher than initially planned, due to "high demand."
Founded in 2015 in Tel Aviv, Fabric develops robotics technologies that enable urban retailers to offer quick deliveries of food and pharma products. Turning underutilized retail spaces into delivery centers where robots store, sort, and process inventory, the company aims to tackle the last mile distribution challenge, making 1-hour deliveries within a city a viable and affordable option for retailers.
Fabric has raised $136 million to date and employs a team of 130 people in both New York and Israel. With the new funding, Fabric plans to expand its team in both Israel and the U.S.