Instock Inc, a leader in customer fulfillment robotics, this week announced that it raised $3.2 million USD in new funding led by the Amazon Industrial Innovation Fund.
The investment brings Instock’s seed financing to a total of $6.2 million USD.
Instock is led by Yegor Anchyshkin, a graduate of the National Technical University of Ukraine Kyiv Polytechnic Institute.
Prior to Instock he and his team built Viewdle, which was acquired by Google, and Zakaz.ua – from zero to profitability and exit to Takeoff Technologies.
Instock’s Seed round was co-led by One Way Ventures and Lux Capital, with funding participation including Commerce VC, u.ventures, Cybernetix Ventures and others active in robotics.
“The technology that Instock has built can have a material impact on the future of eCommerce fulfillment,” said Semyon Dukach, Founding Partner of One Way Ventures, in a statement.
“We are excited by the unprecedented speed and efficiency Instock can bring to fulfillment operations across the country.”
Fulfillment operators are constantly challenged to improve speed, efficiency and accuracy while driving down costs. Automation is a key enabler on all fronts, however 80% of eCommerce fulfillment still relies on entirely manual labor.
Instock’s robotics-as-a-service (RaaS) model innovates by offering a more cost-effective and streamlined way to enhance operations with high-performance automation.
To learn more visit: www.instock.com