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Noyes, a German provider of very small warehouses, has raised 3.8 million dollars (3.23 million euros) in seed funding. The investment comes at a time where there are many instant-delivery providers looking for storefronts that can be converted into small warehouses.
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The millions of euros, raised in a seed funding round led by Vsquared Ventures, with 468 Capital and Abacon Capital participating, will be used to accelerate the roll-out of its product as well as to further develop its technology.
New approach to automate warehousing in general
Robotic warehousing maker Noyes Technologies was founded earlier this year by Aaron Spiegelburg and Marco Prüglmeier, both longtime former employees of BMW Group. After having worked at the intersection of logistics and innovation for decades, the two men saw the need for a new approach to automate warehousing in general.
Ecommerce warehouse storage in Europe can be expensive and is also hard to find in crowded areas such as city centers. “We were looking for warehousing that’s ultra-dense, highly flexible, and easily adaptable to the demanding needs of today’s customers”, Spiegelburg says on the company website, and brought to our attention by Tech.eu.
How the nano-warehouses of Noyes work
Noyes Technologies offers a plug-and-play system that can convert any storefront to a nano-warehouse. To put it in numbers: it can compress 2,000 SKUs into a space of 30 square meters with a ceiling height of approximately 2 meters. Items get picked in five to ten seconds and because the solution is fully automated there’s no need for aisle space.
Nano-warehouses are especially interesting for instant-delivery platforms like Gorillas.
These kinds of nano-warehouses are interesting especially for instant-delivery startups like Gorillas, Flink or Jokr, which just raised 144 million euros.
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