NEW YORK CITY, NY - When it comes to building business, sometimes you’re only as strong as your partners. For Fabric, a startup company with aims to make automated logistics available to retailers big and small, it’s shooting to be a top partner within the industry. TechCrunch reported that the company recently raised $110 million in Series B funding, bringing the total funding raised to $136 million.
“When Amazon announces it’s providing free same-day deliveries of $1 items, that becomes the consumer expectation—and the faster the delivery, the more complicated and expensive it is,” Steve Hornyak, Chief Commercial Officer, recounted to TechCrunch. “Our aim is to enable all other retailers to stay relevant and competitive in this world that Amazon has created, providing the operational, strategic, and financial infrastructure they need to meet consumer expectations profitably, sustainably, and at scale in an on-demand world.”
In October of last year, Fabric opened its first micro-fulfillment center in Tel Aviv. Inside, robots pick up inventory so human workers can stay busy at a scanning station. Each station can process up to 600 orders a day, including one-hour deliveries.
Currently, the company has 14 sites under contract, including three being built in New York City. One of those is scheduled to open by the first quarter of next year and will be available to retailers who want to make on-demand fulfillment, including one-hour deliveries, available to their customers, the news source reported.
This platform model, Hornyak added, ideally would expand into other U.S. cities by next year. Deals with certain retailers are currently in talks and will be reported in the coming months.
As retailers seek to crank out online orders as fast as possible, who will be the first to get involved with Fabric? AndNowUKnow will continue to report the latest.
