Fabric raises $110 million Series B to expand its network of automated fulfillment centers in the U.S.
Fabric, the startup that wants to make automated logistics available to retailers of all sizes, announced today it has raised $110 million in Series B funding. 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 $136 million. 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 property that use the startup’s AI and robotics-based technology.
Fabric was founded in Tel Aviv in 2015 and is now headquartered in New York. Its Series B will be used for its U.S. 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
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