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India’s richest man spends $132 million buying majority stake in robotics company

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India’s richest man, Mukesh Ambani, has bought the majority stake – 54 percent – in a robotics company called Addverb Technologies through his Reliance Industries conglomerate.

Addverb Technologies is a warehouse automation company, mainly in the intralogistics space, providing autonomous mobile robots and other systems, and was already working with Reliance Industries.

The purchase of the shares took place during the startup’s latest funding round. [Read more…] about India’s richest man spends $132 million buying majority stake in robotics company

Uber completes acquisition of delivery robot startup Postmates

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Uber Technologies has completed the acquisition of delivery robot startup Postmates in an all-stock transaction.

The two companies have begun the process of integrating US operations.

The transaction brings together Uber’s global Mobility and Delivery platform with Postmates’ business in the US to strengthen the delivery of food, groceries, essentials, and other goods. [Read more…] about Uber completes acquisition of delivery robot startup Postmates

Walmart deal helps Shopify shares skyrocket more than 300 percent

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Shopify shares have skyrocketed to all-time highs over the past few weeks, largely as a result of its new partnership with Walmart. Shopify is the first online commerce platform partner that Walmart has signed such a deal with. 

The agreement, agreed in June, allows Shopify – which bought warehouse robot maker 6 River Systems last year for $450 million – to put 1,200 of its merchants into Walmart’s marketplace

Walmart is America’s largest retail chain, with annual revenues of more than $500 billion. The vast majority of its sales are in brick-and-mortar stores, but the company has recently been making a big push into the digital space. [Read more…] about Walmart deal helps Shopify shares skyrocket more than 300 percent

NIST awards $3.4 million to support Manufacturing USA’s coronavirus projects

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The US government has awarded $3.4 million to support Manufacturing USA’s solutions to the coronavirus pandemic.

The Department of Commerce’s National Institute of Standards and Technology (NIST) awarded $3.4 million in grants to support “high-impact projects” for Covid-19 pandemic response.

The funding is authorized through the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed by President Donald Trump in March 2020. [Read more…] about NIST awards $3.4 million to support Manufacturing USA’s coronavirus projects

6 River Systems introduces ‘major enhancements’ to its mobile fulfillment robots

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6 River Systems (6RS), part of global commerce platform Shopify, has unveiled what it describes as “major enhancements” to its “wall-to-wall” fulfillment solution, including upgrades to its collaborative mobile robot, Chuck.

6RS says it provides warehouse operators the opportunity to “transform the entire fulfillment workflow from putaway, to picking, sorting and packing”.

Improvements to the solution’s order allocation algorithm and optimizations to batch, zone and other picking methodologies continue to reduce associate walking in the warehouse, says the company. [Read more…] about 6 River Systems introduces ‘major enhancements’ to its mobile fulfillment robots

Attabotics raises $25 million to ‘transform supply chains’

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Attabotics, a robotics company specialising in supply chain technology, has raised $25 million in Series B funding from financial and strategic investors.

Participants in the round included Coatue, Comcast Ventures, and Honeywell alongside returning early investors Forerunner Ventures and Werklund Growth Fund.

The new funding will go toward supporting Attabotics’ continued, explosive growth, including new hires, scaling manufacturing operations, the development of new technologies, and more. Attabotics has raised $32.7 million in funding to date. [Read more…] about Attabotics raises $25 million to ‘transform supply chains’

Infographic: How AI is streamlining the supply chain

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Noodle AI has produced an infographic to show how artificial intelligence is changing commerce

Artificial intelligence is everywhere. In fact, you may have interacted with it today and you didn’t even know it.

AI can streamline a lot of our daily business operations, freeing us up to tackle more difficult tasks.

Within the world of e-commerce, AI may be the key to streamlining the supply chain. [Read more…] about Infographic: How AI is streamlining the supply chain

Kuka selects Apttus digital commerce solution

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Companies say the new customer relations management system will lead to greater efficiencies in complex product ordering 

Software company Apttus has been selected by Kuka as its digital commerce provider.

Kuka is a German manufacturer of industrial robots and solutions for factory automation and has been a leader in its industry since its inception in 1898.

Kuka’s business is dedicated to providing its customers with specific, often customized, factory automation tools.  [Read more…] about Kuka selects Apttus digital commerce solution