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Ambi Robotics Secures $32 Million To Meet Booming Customer Demand
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Ambi Robotics has secured $32 million in funding, aiming to enhance its AI-powered parcel sorting systems due to rising demand, especially during the holiday season. Existing investors, including Tiger Global and Bow Capital, are joined by Ahren and strategic partner Pitney Bowes (NYSE:PBI). This funding follows a previous $23 million deployment expansion with Pitney Bowes, facilitating more than 80 installations of AmbiSort A-Series systems. The technology promises to boost warehouse efficiency, with each system increasing throughput to over 1,200 items per hour.
Positive
Secured $32 million in additional funding to enhance AI-powered sorting systems.
Increased demand for automation solutions for parcel sortation ahead of peak holiday season.
Successful installation of over 80 AmbiSort A-Series systems promoting efficiency.
Negative
None.
Additional funding fuels growth as the company deploys hundreds of AI-powered sorting systems ahead of peak holiday season and throughout 2023
BERKELEY, Calif.--(BUSINESS WIRE)--
Ambi Robotics, the first robotics company to deploy Sim2Real artificial intelligence (AI) in commercial production for parcel sortation, today announced $32 million in additional funding. Existing investors Tiger Global and Bow Capital are joined by Ahren and the company’s strategic partner, Pitney Bowes. The funding will fuel the deployment growth of AI-powered parcel sorting systems as customer demand increases ahead of peak holiday and throughout 2023.
“Consumer shopping behavior is demanding a more modern warehouse. The strains of surging parcel volume shouldn’t rest on the shoulders of the supply chains’ most valued asset – people,” says Jim Liefer, CEO of Ambi Robotics. “It’s humbling to see such sophisticated investors stepping forward and contributing to the success of our mission to empower people to handle more.''
This announcement comes on the heels of a $23 million deployment expansion deal with global shipping and mailing company Pitney Bowes. Ambi Robotics is completing the installation of more than 80 all-new AmbiSort A-Series parcel sorting solutions across the US to empower warehouse workers with automated sorting systems amid the rise of constant commerce demand.
“Ambi Robotics is an important part of an innovation strategy that is helping Pitney Bowes improve service to our clients and efficiently grow our Global Ecommerce business,” said Gregg Zegras, EVP and President, Global Ecommerce at Pitney Bowes. “In Ambi Robotics, we see the same commitment to client-led innovation that has helped Pitney Bowes evolve and win in the marketplace for over 100 years. We look forward to continuing to work together to drive innovation in our Global Ecommerce hubs.”
Ambi Robotics is deploying its next-generation AmbiSort A-Series v3, an upgraded model of the company’s flagship product, which is fully American National Safety Institute (ANSI) safety compliant. AmbiSort systems are full-stack sorting solutions, combining robotic picking, item analysis, and quality control with a proprietary ‘soft-touch’ end effector that handles boxes, flats, polybags, and other deformable or rigid items. Each warehouse associate can work alongside three to four AmbiSort A-Series systems, increasing the average throughput-per-employee to over 1,200 items safely sorted per hour with more than 99% accuracy. AmbiSort systems are powered by AmbiOS, the company’s advanced operating system that leverages simulation-to-reality (Sim2Real) AI technology to rapidly teach robots to pick and pack millions of unique items on day one of deployment.
"We have unwavering dedication to supporting DeepTech companies at the intersection of groundbreaking science and the highest-end technology – a sweet spot that drives positive impact in the world,'' says Alice Newcombe-Ellis, Founding and General Partner at Ahren. "Since the team’s breakthrough discoveries in Sim2Real AI, Ambi Robotics has remained focused on applying its technology to solving real-world problems, enabling critical services companies to execute on an overflowing supply chain and deliver to individuals globally."
The additional funding will propel Ambi Robotics to achieve several milestones over the next 12 months, particularly in the areas of deployments and installations, expanding its product portfolio, and continuing the company’s investment in growing a world-class team of engineering, customer support, operations, and supply chain experts.
About Ambi Robotics
Ambi Robotics is an artificial intelligence (AI) and robotics company developing advanced solutions that scale ecommerce operations to meet demand while empowering humans to work smarter. The company’s industry-leading AI operating system, AmbiOS, leverages advanced simulation-to-reality technology to operate highly-dexterous robotic systems. Founded in 2018, the world's top roboticists, AI researchers, and leading business professionals work together to build the supply chain's most valued systems. The company is located in Berkeley, Calif. For more information, please visit www.ambirobotics.com.
About Ahren
Ahren is a deep tech and deep science investment firm set up by Alice Newcombe-Ellis alongside co-founding Science Partners that have founded companies and/or technologies that are today valued in excess of $100BN combined. The firm was established from first principles with a mission to be disruptive as an investment institution, with a new model – genuine partnership between the creators of deep technology and deep science, and commercially active, long-term capital, to harness tremendous global talent and build and exponentially accelerate the next generation of great enterprises. Ahren’s Portfolio companies include AI21 Labs, Graphcore, Zapata Computing, ZOE, Phaidra, Heirloom Carbon, and Bicycle Therapeutics among others. Ahren has >$800M AUM and has team members in Cambridge (UK) and London. Learn more at www.ahreninnovationcapital.com.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the latest news, corporate announcements and financial results visit https://www.pitneybowes.com/us/newsroom.html. For additional information, visit Pitney Bowes at www.pitneybowes.com.
About Tiger Global
Tiger Global is an investment firm focused on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global’s venture business has invested in hundreds of companies ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global’s investments have included Stripe, Shein, Bytedance, Meta (formerly Facebook), LinkedIn, Spotify, Flipkart, and Toast.
About Bow Capital
Bow Capital Management, LLC (“Bow”) is an early-stage investment firm founded in partnership with the University of California to accelerate the path of innovation from science to society. Bow strives to bridge the best of academia, sports, entertainment and business. We believe the world is undergoing a fundamental shift toward Civilization 3.0, a new era in which data, ideas and imagination are the raw materials for disrupting industries and building new ones. Our investments target entrepreneurs and technologies with the potential to impact billions of lives.
