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Brightpick has announced a successful advancement in its funding efforts, securing an additional $12 million through a combination of equity and debt financing. The company aims to utilize this new capital primarily to enhance the deployment of its robotic and artificial intelligence solutions across the United States, where it anticipates 50% of its revenue will originate in 2024.
Jan Zizka, co-founder and CEO of Brightpick, highlighted the enthusiastic market response to their product, stating, “Since launching Brightpick Autopicker early last year, we’ve experienced tremendous interest from new customers. Our unique technology offers greater labor and cost savings than any other solution, which resonates strongly with customers. Our focus has always been on scaling in the US, where we’re now seeing the most traction. These funds will primarily support additional customer installations in that market.”
Established in 2021 as a spin-off from Photoneo, a firm recognized for its 3D robotic vision sensors and intelligence software in Bratislava, Slovakia, Brightpick operates its headquarters in Erlanger, Kentucky, close to Cincinnati. As part of the Photoneo Brightpick Group, the company boasts over 8,000 technology installations globally, with a significant presence in the U.S., Europe, and Asia.
Autopicker: Innovating Warehouse Fulfillment
Brightpick specializes in deploying AI-driven robots for warehouse operations, facilitating everything from order picking and consolidation to dispatch and replenishment. The company positions its Autopicker as the world’s sole mobile manipulator capable of autonomously selecting and gathering orders in warehouse aisles, emulating the actions of a human worker equipped with a cart.
The flagship Autopicker system, unveiled in 2023, is designed for swift implementation, reportedly taking only weeks to set up while reducing the required labor for order fulfillment activities significantly. Brightpick has expanded its workforce to over 200 employees and has deployed more than 300 AI robots across various locations in the U.S. and Europe, serving notable clients such as Rohlik Group, Dr. Max, and The Feed.
The Autopicker has garnered acclaim, being named the 2024 RBR50 Application of the Year for its exceptional capabilities in automating both mobile manipulation and order picking.
Funding Overview and Future Prospects
Photoneo has invested upwards of $35 million into Brightpick, bringing the total funding to $47 million after this latest financial round. This funding round attracted participation from new investor EBRD Venture Capital, alongside current stakeholders including Pavel Baudiš and Eduard Kučera (founders of Avast), Miroslav Trnka (founder of ESET), Maximilian Kolowrat-Krakowsky, and Juraj Duriš.
Bruno Lusic of EBRD Venture Capital expressed enthusiasm about supporting Brightpick’s innovation journey, stating, “We are excited to support Brightpick as they continue to revolutionize warehouse automation with their innovative technology. Their ability to deliver unmatched efficiency and cost savings to customers positions them as a leader in the market, and we are confident that their rapid growth in the U.S. will further strengthen their leading position.”
Source
www.therobotreport.com