Attabotics, the World’s First 3D Supply Chain System for Modern Commerce, Hires Richard Cheung as Chief Financial Officer

Rhea-AI Summary

Attabotics has appointed Richard Cheung as its new Chief Financial Officer (CFO). Cheung brings extensive experience from publicly listed companies, having previously raised $160 million and achieved over 250% revenue growth at a prior e-commerce firm. His leadership is expected to enhance Attabotics' growth trajectory as the company scales its innovative 3D supply chain technology.

This unique system allows for significant warehouse space reduction and addresses labor shortages while meeting rising consumer demands.

Positive

• Richard Cheung's extensive experience in finance and operations is expected to strengthen Attabotics' leadership.
• Cheung's previous success in raising $160 million and achieving substantial revenue growth indicates potential for similar achievements at Attabotics.

Negative

• Concerns may arise about continuity and the transition period as Cheung steps into the CFO role.

Cheung brings comprehensive financial and operational experience from NASDAQ and TSX-V listed public entities

CALGARY, Alberta--(BUSINESS WIRE)-- Attabotics, the world’s first 3D supply chain system for modern commerce, today announced the appointment of Richard Cheung as the company’s Chief Financial Officer (CFO). Cheung will lead the finance and administrative team at Attabotics as it embarks on its journey to scale the business.

Most recently, Cheung was the CFO at a privately held e-commerce platform for channel partners, which provides SaaS productivity and digital marketing solutions to small and medium sized businesses. During Cheung's tenure, the company raised $160 million, completed its first two acquisitions, and achieved 250%+ revenue growth while expanding from a 250 person North American business to a global organization with more than 700 employees.

Cheung also served as CFO at GeoComply Solutions, Inc, a fraud prevention and cybersecurity solution gaming company and TIO Networks Corp, a fintech company acquired by PayPal, Inc. in 2017. He also served as CFO at Electric Mail, an email hosting and security company, which was acquired by j2 Global, Inc. in 2004.

“Richard is a seasoned finance executive with a deep understanding of the technology industry,” said Scott Gravelle, founder and CEO of Attabotics. “He’ll be a crucial part of Attabotics’ growth story during the upcoming year and beyond as we continue to advance our operations and team worldwide.”

Founded in 2016, Attabotics’ all-in-one fulfillment system condenses typical warehouse space by creating a single, vertical storage structure that uses 3D robotic shuttles internally to store and pick goods for workers on the outside perimeter to ship. This unique architecture maximizes the flexibility and speed of warehouse processes while maintaining a cost-effective and eco-friendly methodology. As consumer expectations continue to increase at unprecedented levels, Attabotics is helping customers across several industries, including retail, grocery and infrastructure, adjust to that surge while simultaneously offering a solution to the warehouse labor shortage.

“Attabotics has truly innovative technologies that will transform traditional legacy supply chain systems. Most warehouses deploy antiquated infrastructure that isn’t efficient from a cost or customer perspective, but that's changing rapidly," said Cheung. "I'm excited to be joining a team of visionaries that are set out to reinvent the supply chain for modern commerce."

About Attabotics

Attabotics is the world’s first 3D robotics supply chain system for modern commerce. Inspired by the framework of ant colonies, Attabotics replaces the rows and aisles of traditional fulfillment centers with a patented storage structure and robotics shuttles that utilize both horizontal and vertical space, reducing the company’s warehouse needs by 85 percent. By empowering retailers to place fulfillment centers near high-density urban areas, Attabotics helps create jobs and decrease carbon emissions by closing the last-mile delivery gap. Attabotics has been adopted by major brands and other retailers across apparel, food and beverage and home goods. Attabotics is based in Calgary, Alberta, Canada with fulfillment centers across the United States and Canada.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913006136/en/

Jake Tredo

attabotics@moxiegrouppr.com

562.283.4085

Source: Attabotics

FAQ

Who is the new CFO of Attabotics?

Richard Cheung has been appointed as the new Chief Financial Officer of Attabotics.

What is Richard Cheung's experience prior to joining Attabotics?

Before joining Attabotics, Cheung served as CFO at a successful e-commerce platform where he raised $160 million and achieved over 250% revenue growth.

How will Richard Cheung's appointment impact Attabotics?

Cheung's extensive background in finance and technology is expected to support Attabotics' growth and scaling efforts in the supply chain sector.