In context
In early 2023, warehouse automation was a key focus for manufacturers and logistics providers seeking to cut costs and address labor shortages. Photoneo Brightpick Group, known for robotic vision and AI-driven order picking, was scaling its solutions across Europe and eyeing US expansion.
What was reported
Photoneo Brightpick Group raised an additional $19 million, completing a $40 million Series B round. Taiwania Capital led the tranche, with follow-on investments from IPM Group and Alpha Intelligence Capital, plus new backers H&D Asset Management, Venture to Future Fund, and Kolowrat Group. Total capital raised now stands at $53 million.
The company reports over 300 employees and more than 5,000 technology installations across the US, Europe, and Asia, with clients including General Motors, Volkswagen, and Kuka. The US contributes about 25% of revenue, and the new funds will primarily support Brightpick's warehouse automation deployments in the US.
Brightpick's solution, already implemented at Rohlik Group's Prague fulfillment center, can be deployed in a month, reduce picking labor by 95%, and cut order fulfillment costs by half. A next-generation automated order picking solution powered by proprietary machine vision and AI is expected in Q1 2023.
Why it mattered
This funding signaled growing investor confidence in AI-driven warehouse automation, particularly for ecommerce and grocery fulfillment. The emphasis on US expansion and labor reduction underscored the technology's role in addressing operational challenges amid economic uncertainty.
“We are seeing extremely strong interest from existing and new customers for Brightpick’s solution because it helps customers cut operating costs and eliminate labor challenges.”
Source: Robotics & Automation News (roboticsandautomationnews.com) · Published 2023-01-18 · “Photoneo Brightpick raises additional $19 million to complete $40 million in Series B funding”