Robot operated, nano-warehousing provider Noyes Technologies raises $3.8 million

Tech EU LogoThis post was originally published by Dan Taylor at Tech EU

Specifically designed to be used in urban markets, Munich’s robotic warehousing maker Noyes Technologies has raised $3.8 million in seed funding. Noting the growing trend of consumers’ expectations of ever-faster delivery times, Noyes is aiming to provide a fully automated distribution solution in advance of market demand. The funding is expected to be used to accelerate product roll-out as well as further develop the company’s flexible robotic warehousing technology.

Warehousing space in dense urban environments is not only hard to come by, but is often found at a profit eroding cost. This conundrum represents one of the biggest challenges to the logistics industry, one that Noyes Technologies is addressing with a novel approach: shrink the entire process.

By providing a flexible plug-and-play system, Noyes Technologies states that they can convert any storefront to a nano-warehouse, compressing 2000 Stock SKUs into a 30sqm space with a ceiling height of approximately 2 metres. Fully automated, there’s no need for aisle space, and the startup reports the entire picking process per item can be completed in five to ten seconds.

The company was founded earlier this year by Aaron Spiegelburg and Marco Prüglmeier, both longtime former employees with Bavaria’s BMW Group.

“Having worked at the intersection of logistics and innovation for decades, we saw the need for a new approach to automate warehousing in general; one that is ultra-dense, highly flexible, and easily adaptable to the demanding needs of today’s customers,” stated Spiegelburg.

Noyes Technologies seed funding round was led by Vsquared Ventures, with 468 Capital and Abacon Capital participating.

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This post was originally published by Dan Taylor at Tech EU

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