Takeoff Technologies, Boston, confirmed the closing of its Series C fundraising with an additional $25 million in investment for 5% 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, Miami, and is set to propel a rollout scale across North America, Europe and Australia.
Takeoff has several operational microfulfillment centers (MFCs) in place, with many to follow in the coming months.
As part of its continued progress, Takeoff also announced Version 2.0 of its Microfulfillment Solution, to be rolled out in 2020. Version 2.0 will feature a smaller and cleaner design of the MFC’s floor space released in 2018, allowing for easier construction and installation. Version 2.0 will allow for 6% 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 smart technology to avoid humans and other obstacles to transport totes full of groceries.
“Version 2.0 takes all of the innovative features from our original design and optimizes them,” says José Vicente Aguerrevere. co-founder and CEO. “We are constantly working to provide the maximum capabilities and service to our retail clients.”
“Both the Series C funding and the MFC Version 2.0 mark Takeoff Technologies as a continually growing force in the industry,” adds Max Pedró, co-founder and president. “The vision of accessible and fast online groceries is no longer a dream. We are making it happen.”