IL Ventures
Assembly Line
Pickommerce Secures $3.4M Investment to Advance Innovative Robotic Piece-Picking Technology
Pickommerce, a warehouse automation innovator, announced it has secured $3.4 million in funding to advance the development, production and marketing of its innovative PickoBot piece-picking robot. Pickommerce’s technology is poised to disrupt the warehouse automation market, which is projected to grow at a CAGR of 53.4% and reach nearly $9 billion by 2029, according to research firm Mordor Intelligence. The funding round was led by IL Ventures, a fund focused on disruptive technologies for legacy industries, and includes InNegev, Fusion VC, the Israel Innovation Authority and strategic investor ZIM Ventures, the corporate venture arm of maritime shipping company ZIM Integrated Shipping Services Ltd (NYSE: ZIM).
With PickoBot, Pickommerce has delivered the missing link in achieving a fully autonomous warehouse workflow, providing a superior solution for various industries such as apparel, retail (consumer goods, food, DIY, electrical, etc.), e-commerce, pharmaceutical, agricultural and spare parts. PickoBot utilizes an advanced computer vision system powered by machine learning that enables the safe and intelligent packaging of objects of different sizes, weights and textures. It features multiple gripping methods in a single station, including vacuum, finger-based, and patented adhesive-based grippers. An AI-driven decision-making algorithm selects the optimal gripper and grasp configuration for each item. Pickommerce’s patent-protected technologies significantly increase the variety of products that can be handled by robots in logistics, as well as the level of autonomy those robots possess.