Fabric
New York and Tel Aviv company, formerly CommonSense Robotics, that builds robotic automated fulfillment centres for grocers and retailers and now sells its Orchestra software platform.
Fabric was founded in 2015 and operated as CommonSense Robotics until 2019. It lists offices in New York, Tel Aviv and Atlanta and builds compact robotic fulfillment centres that store and pick e-commerce orders close to customers, which the industry calls micro-fulfillment. The company opened its first automated site in October 2018, a 6,000 square foot facility it said could handle up to 600 orders a day with one-hour delivery, and a grocery site for same-day delivery went live in late 2019. Retail partners it has named include Walmart, Instacart and FreshDirect, and its newsroom lists a partnership with A.P. Moller Maersk on an AI-driven automated fulfillment centre and the launch of Orchestra, which it calls an AI-native platform for automated fulfillment. Elram Goren was chief executive at the time of the 2019 and 2021 rounds, and the newsroom now names Avi (Jack) Jacoby and Curt Avallone as co-CEOs. On 23 October 2019 the company announced a $110 million Series B led by Corner Ventures with Aleph, Canada Pension Plan Investment Board, Innovation Endeavors, La Maison, Playground Ventures and Temasek, bringing its total to $136 million, to build micro-fulfillment centres in the US and expand its Tel Aviv engineering teams. On 25 February 2020 it announced an undisclosed further investment from Evolv Ventures, the venture arm of Kraft Heinz. On 26 October 2021 it announced a $200 million Series C led by existing investor Temasek, with new investors including Koch Disruptive Technologies, Union Tech Ventures, Harel Insurance & Finance, Pontifax Global Food and Agriculture Technology Fund, Canada Pension Plan Investment Board, KSH Capital, Princeville Capital and Wharton Equity Ventures. It said the round valued it at more than $1 billion and brought total funding to $336 million, and that the money would go into general merchandise, a network of micro-fulfillment centres in large US metro areas and hiring in Israel and the US.
- Latest funding
- $200M
- Total funding
- $310M
- Latest valuation
- —
- Founded
- 2015
- Country
- United States
- Oct 26, 2021Series C$200M
- Feb 25, 2020Strategic investment—Led by Evolv Ventures
- Oct 23, 2019Series B$110M