Nomagic, a Polish provider of smart pick & place robots for warehouses, has secured $8.6 million in seed funding. Khosla Ventures and Hoxton Ventures led the round.
Nomagic, provider of smart pick & place robots for warehouses, announced today the closing of a $8.6 million Seed investment round led by Khosla Ventures. The round is one of the biggest seed rounds for a Polish startup yet. Hoxton Ventures (London) co-led the round with existing investors DN Capital (London), Capnamic Ventures (Cologne) and Manta Ray (London).
“The Nomagic team has made significant strides since its founding in 2017” says Sven Strohband, Managing Director of Khosla Ventures. “There’s a massive opportunity within the European market for warehouse robotics and automation, and NoMagic is well- positioned to capture some of that market share.”
Founded on the premise that order fulfillment in warehouses requires repetitive manual tasks for which it is harder and harder to find operators, Nomagic develops AI-based solutions using robotic arms to reliably pick and place millions of different products. Their smart robots are able to determine how to pick never seen products and detect rare anomalies such as robots picking two items at once. In 2019, Nomagic deployed its solution at Cdiscount, the leading French e-commerce platform, to build the first fully automated packing line for e-commerce.
"Quality of service is essential for a leading e-commerce platform like Cdiscount, notably during peak seasons (such as Black Friday and Christmas). Operational excellence, rigorous forecasting and warehouse automation are key to achieve our objectives" notes Pierre-Yves Escarpit, deputy CEO of Cdiscount in charge of Supply Chain. "Nomagic solutions have proved reliable “picking-and-packing” products and consistently meet our expectations in terms of robot cadence and availability."
The Seed investment will support the company's product roadmap to enhance its smart, fast and simple robots as well as expand to other sectors like fashion e-commerce. It will also allow Nomagic to finance its deployments under a Robot as a Service model, where customers can get the robotic solutions on a subscription basis and therefore achieve very quick returns on investment.
"Our ambition is to deploy more than a thousand smart robots in the next 5 years", says Kacper Nowicki, CEO and co-founder of Nomagic. "This seed round is a recognition of the unique AI and Cloud technology we built, and will allow us to deploy robotic solutions with a model that offers the most benefits for warehouse managers in terms of flexibility and efficiency."
As part of the round, Philippe Hémard, former VP Logistics EMEA at Amazon, joins Nomagic as an advisor. "The supply chain is increasingly playing a larger role in overall customer satisfaction and bottom-line results” states Hémard. “NoMagic’s solution leverages the latest in picking automation combined with an innovative Robot as a Service model. Their approach makes this technology attractive and affordable for all customers, from retailers to Logistics operators (3PL), and I’m excited to be a part of the journey.”
Nomagic provides the smartest pick & place robots to eliminate tedious tasks in warehouses while reducing cost per pick. Thanks to its unique Artificial Intelligence and Cloud platform, Nomagic robots can complete a large variety of tasks to pick and place single products in warehouses with high reliability and flexibility. Nomagic works with leading European e-commerce platforms such as Cdiscount in France, as well as third-party logistics providers operating warehouses to integrate its solutions with existing storage, sorting and packing automated systems and help them move towards full automation. Nomagic offers its unique robotic solutions in a Robot as a Service model to provide fast Return on Investment for warehouse operations with minimal client oversight.
About Khosla Ventures:
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. With over five billion dollars under management, the firm focuses on a broad range of areas including consumer, enterprise, education, financial services, semiconductors, health, big data, agriculture/food, sustainable energy and robotics. Khosla Ventures is headquartered in Menlo Park, California.
About Hoxton Ventures:
Hoxton Ventures is a London-based early stage venture fund focusing on finding disruptive technologies across Europe and accelerating their expansion globally, with a particular focus on the US market. Hoxton’s portfolio includes unicorns like Darktrace, Babylon Health and Deliveroo.