Takeoff Technologies has closed its Series C fundraising with an additional $25 million in investment for 5 percent of the company, with a valuation of $500 million, bringing the total funds raised to $86 million.
The Series C funding was led by Forrestal Capital. This funding is set to propel a rollout scale across North America, Europe and Australia.
Takeoff is at the forefront of microfulfillment as the first and only solution provider with several operating sites in partnership with major grocery retail chains.
Takeoff has several operational microfulfillment centers (MFCs) in place, with many to follow in the coming months.
Takeoff has agreed partnerships in the US with Albertsons, Ahold Delhaize, Wakefern, Sedano’s and in Australia with Woolworths, with additional domestic and international partners to be disclosed in the near future.
As part of its continued progress, Takeoff also announced Version 2.0 of their Microfulfillment Solution, to be rolled out in 2020.
Version 2.0 will feature a smaller and cleaner design of the MFC’s floorspace, allowing for easier construction and installation.
Version 2.0 will allow for 6 percent faster order picking, while increasing storage capacity.
It will also introduce the use of autonomous mobile robots known as “open shuttles” to roll independently within the center, using a smart technology to avoid humans and other obstacles in order to transport totes full of groceries.
José Vicente Aguerrevere, Takeoff co-founder and CEO, says: “Version 2.0 takes all of the innovative features from our original design and optimizes them.
“We are constantly working to provide the maximum capabilities and service to our retail clients.”
Max Pedró, Takeoff co-founder and president, says: “Both the Series C funding and the MFC Version 2.0 mark Takeoff Technologies as a continually growing force in the industry.
“The vision of accessible and fast online groceries is no longer a dream. We are making it happen.”